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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Defense Workers: 1,000,000 direct and indirect jobs about to be lost. UPDATE: Aviation Week & Space Tech. today reports that Obama Admin. wants to divert billions of dollars from our already Hollowed Out Armed Forces to "renewable and green energy" as a new sort of national defense concept. Can't make this stuff up.
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