More good news on jobs: "it’s the economy, stupid" might start sounding pretty stupid soon!

Reuters reports: “Payrolls Surge, Third Straight Rise.”

“The U.S. economy added more than twice the number of jobs expected in October, the third straight monthly gain, and the jobless rate fell, . . . pointing to a labor market recovery.”

“The Labor Department also made substantial upward revisions to payrolls for August and September, a sign sizzling economic growth in the third quarter translated into more jobs.”

“The number of workers on U.S. payrolls outside the farm sector in October soared 126,000, the largest rise since January, after climbing 125,000 in the previous month. The number far outstripped analyst expectations for a 58,000 gain.”

“The unemployment rate fell to 6.0 percent, the lowest since April, from 6.1 percent in September. That also beat economist forecasts for the jobless rate to remain unchanged.”

Maybe soon we’ll be able to give a proper burial to the “jobless” part of “jobless recovery” and the Democrats will have to find another campaign issue (there are plenty of others–I predict one will be the inferior “quality” of the new jobs).

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Posted by George Lenard

on November 7, 2003

General