U.S. Jobs Up 151,000; Unemployment 9.6 Percent
by Scott Neuman, NPR
November 5, 2010
Employers boosted jobs at a faster pace in October than at any time in nearly half a year, but the unemployment rate remained stubbornly at 9.6 percent — further evidence of what the Federal Reserve has termed a "disappointingly slow" recovery.
The economy added a larger-than-expected 151,000 jobs last month, but the unemployment rate remained at 9.6 percent, the Labor Department said Friday
Employers added a net 151,000 jobs last month, the most since May. Wall Street analysts had expected a gain of only about 60,000 jobs.
Austan Goolsbee, the chairman of the White House Council of Economic Advisers, said that with job growth "twice as good as expected," the report was encouraging.
"When the president took office we were seeing catastrophic job losses of 700,000, 800,000 per month," he told NPR Friday. Since then, "we've just been moving our way up out of that," he said....
Nigel Gault, economist with IHS Global Insight, said the numbers "are encouraging at first blush and even on closer examination, they still look good."
"I think the important thing is that the numbers are telling us we're continuing to grow, that the recovery is still in place and we're not at risk of falling back into that dreaded double-dip.
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Not everything about this administration is always all bad, in spite of the pessimistic posts in this forum



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