Friday, October 3, 2014

Jobs Report Exceeds Expectations

++Wall Street expectations were from 174 to 224,000 jobs created this past month. But the jobs report blew through all expectations and exceeded the ADP estimates for the first time in a while.

++The economy created 248,000 non-farm payroll jobs bringing the unemployment rate down to 5.9%. The unemployment rate has not been this low since July 2008. The U-6 rate is 12%.

++As this blog has maintained all year long,if the GOP had not closed the government, has passed the extended unemployment benefits and agreed to infrastructure spending, we would be at near full employment. 

++President Obama has been on the hustings the last few days trying to get the message of a better economy across. But he is the lone voice among Democrats. 

++I was push-polled by the Gillespie campaign, which kept asking in different ways how the economy was worse off. The other issue they raised was how afraid I am of Ebola--not very. Sadly I don't think the economy will help the Democrats.

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