In the final jobs report prior to the election, the Bureau of Labor Statistics has announced that unemployment crept up in October to 7.9 percent, as 170,000 nonfarm payroll jobs were added. The broader "U-6" unemployment statistic is 14.6 percent (up a hair from 14.5 six months ago). August and September's numbers were both revised upward, which is a positive sign. As Jim Pethokoukis notes, average monthly job growth in 2012 has been nearly identical to the sub-par numbers of 2011, and hourly wages remain stagnant at best. The "worst recovery since the Great Depression" continues....
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The uptick we are seeing is the chronically unemployed getting back in the labor market - One of the best signs of an economic recovery. Add to that the much better-than-expected jobs number, and this becomes really bad news for Romney.
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