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Will fairly good jobs report for October help Obama?

This morning’s jobs REPORT from the Bureau of Labor Statistics was better than expected, which raises the question of whether it will have an influence on next week’s presidential election.

The unemployment rate ticked upward by one-tenth of one percent, but that was mainly because more people entered the jobs market, an indication of more public confidence that work is available.

Every major employment sector, except for government jobs, saw an increase last month.

The BLS also upwardly revised its jobs numbers for the two previous months.

At this writing, financial markets seem likely to open  higher this morning in reaction to the jobs picture.

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9 Comments

  1. The unemployment rate goes up, and you link this to more public confidence that work is available?

    Good grief, I hope the public doesn’t get any more confident. I’d like the unemployment rate to go down.

    Romney is way ahead among people who have already voted. The red tidal wave is coming, and it will wash you and your propaganda out to sea. But don’t worry, the water will be comfortable because of global warming.

  2. Here’s a good response from a local blogger.

    http://www.jsonline.com/blogs/purple-wisconsin/176954071.html

    Here is what we know. We’ve known it for a long time. The recovery has been awful – historically awful. It is one of the worst in our history. There is no room to argue about that.

    What we do differ on is why this is so. The President’s supporters say it is because the recession was so deep. His critics point to evidence that this is a mistaken assumption – deep recessions tend to be followed by more robust recoveries. They argue that the President has spent mightily – turning the federal government into a fiscal basket case – with no discernible effect.

    I believe that the critics have the far better case. You may differ. One month’s job report is unlikely to – and really should not – cause either of us to change our minds.

  3. Poor Dan seems not to understand what most economists readily recognize: The unemployment rate often rises a bit when more people who had been jobless actively start looking for work again.

    Poor Dan also is delusional with his factless contentions that “Romney is way ahead among people who have already voted” and that “the red tidal wave is coming.”

    Even Fox News refutes Dan’s first claim. Witness the headline yesterday on the Fox Web site: “Democrats leading in number of early ballots cast.”

    As for Dan’s expectation of a “red tidal wave,” there’s a not single reputable poll that supports that nonsense. Not even one.

    Methinks Dan has finally completed his trip around the proverbial bend. Those of you who are religious should pray for him. The rest of us will just try not to die laughing.

  4. Just filled out my benefit forms for 2013, my health insurance went up $70/wk now $400.00/wk and no raise in 3 1/2 yrs.

    Thanks Mr. Obama!!! I want 4 more years of this!!!

  5. Craig Knauss

    Wilson, My health insurance has gone up every year since the 1980s. The only time it stayed the same was when coverage was REDUCED. If I wanted more coverage, it cost more. I had big increases when Reagan was prez because I worked for the federal government then. Reagan cut the hell out of our benefits, which weren’t that great to begin with. I’ve seen pretty much yearly increases with my present employer. I’ve been with them 22 years. The last few years they pushed high deductable plans to lower costs (for them).

    And remind doc that unemployment hit 22% when Reagan was president. It wasn’t anywhere near that when he first took office.

  6. Craig Knauss

    My second paragraph should have said “unemployment in Rockford hit 22% when Reagan was president.”

    Sorry

  7. What was unemployment when Reagan left office?

  8. Obama said my insurance costs would decrease, no increase.
    So your insurance has gone up 20 to 25% every year?

  9. What this article does not mention is that the number of unemployed rose by 170,00 furing the same period to 12.3 million total, and we have the highest unemploymet rate since President Roosevelt. Source: Today’s New London Day.
    PS I compliment the Norwich Bujlletin for comprehensive articles on this issue.

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