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US Economy Adds 171K Jobs

Ace November 2, 2012 0
US Economy Adds 171K Jobs

US Economy Adds 171K Jobs

In probably his last fight for the 2012 elections Obama just boosted his campaign by strengthening the US Economy by adding jobs and boosting the unemployment rate. It was the Labor Department’s last look at hiring before Tuesday’s election and they showed signs that the market is gradually gaining momentum after nearly coming to a complete stop  this past spring. Furthermore the economy has created an average of 173,000 jobs a month since July. So its up about 67,000 a month from April through June which is great.

But riddle me this US Economy, on the flip-side how many have lost jobs as well…

US Economy Adds 171K Jobs

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U.S. employers added 171,000 jobs in October and hiring was stronger over the previous two months than first thought. The unemployment rate inched up to 7.9 percent. 

As for President Barack Obama this is both good news and bad. He still has to compete for the presidency and he will be facing voters who are unemployed and who dont want to get taxed so high. It’s going to be a very interesting race because many are still unsure about both candidates and with the recent events on the East Coast things mellowed out. Both Romney and Obama were side swiped by the recent events that slowed down the focus on them and drew to the East Coast in hopes and Prayers for the families who are going through this mess.

So wether Romney or Obama win either way they both have a huge concern to take care of in the East Coast. Obama has declared a State of Emergency and is currently doing his best in cities like New York and New Jersey  and that’s where a main focus needs to be until the cities are restored.

According to economists as of now we have the highest unemployment rate since Franklin Roosevelt. When the government counts people without jobs as unemployed it’s people who had a job than lost it are are currently looking for one say they file for unemployment. Theres also a rumored large number of people who don’t file for unemployment and are just out there looking for one.

US Economy Adds 171K Jobs

US Economy Adds 171K Jobs

US Economy Adds 171K Jobs

It’s always nice to see that there is an increase in the work force and citizens are with high spirits pursuing jobs. It was also said that the work force rose by 578,000 and about 410,000 claimed that there were employed. So as the current unemployment increased it pushed 170,000 more jobs to slightly drop the 12.3 million unemployment rate that is going on. This slight increase is always a positive as it rises the spirits of those out there who need a job and pushes them to go out and pursue them.

Moreover the economy has added jobs for 25 straight months showing an increase of 580,000 more jobs than when Obama originally took office. However the signs of the economy’s weakness never changed..

On another note the October jobs report was compiled before Superstorm Sandy took her toll on the East Coast earlier this week devastating many businesses. So it’s hard to see what’s really going on and how bad the economy really is until the East Coast is back on it’s feet.

Other concerns with the economy are businesses who deal overseas due to Europe’s financial crisis. Another concern among most businesses are whether or not Congress will reach a budget deal before January.

US Economy Adds Jobs

US Economy Adds Jobs

 

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