7.9%: Four Days Before Election Day, Economy Adds 171,000 Jobs

7.9%: Four Days Before Election Day, Economy Adds 171,000 Jobs

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No major change. According to the Bureau of Labor Statistics (BLS), the unemployment rate for October didn’t change much and 171,000 jobs war added during the month of October. With election day only four days away,  the U.S. unemployment ticked up to 7.9% from 7.8% in September.  Last month, the rate dropped to the lowest level — 7.8 percent — it has been at since early 2009 when President Obama took office.

The rate dropped to under 8% for the first time in four years.  As reported by CBS News, “the rate declined because more people found work, a trend that could have an impact on undecided voters in the final month before the presidential election.”

Consumer confidence numbers have improves and today’s reported number is unlikely to rock the dynamics of a very close presidential contest.

“Participation rate went UP, not down. Important potential turning point in jobs picture,” NBC political guru Chuck Todd tweeted this morning.

“Despite spin on jobs report, here’s reality of U.S. economy: If Romney wins, he’d inherit a MUCH stronger economy than Obama did in ’08,” tweeted NBC’s Mark Murray.

“This jobs report is good, but it won’t change the race. Which is as it should be,” tweeted Washington Post reporter Ezra Klein.

 

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