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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My son is a wrestler in high school. I love watching his matches, but sometimes he just gets completely manhandled and has no chance. But even when writhing on the mat underneath his opponent, he can sometimes summon enough strength to jostle his opponent off of him just long enough to get his shoulders off the mat, and delay the eventual pin, and loss. This unemployment figure reminds me of that. Obama and the Dems have business pinned to the mat, but they are periodically able to achieve a bounce in spite of the economic policies being foisted on them by this administration.
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