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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After the election, the unemployment figures will be adjusted- TO 10%. It amazes me how we fell below 8% before the election, when fewer jobs were created. Then with the latest figures, unemployment rose with MORE jobs created. Whatever department of government is in charge of this information- cut that department FIRST!
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