The US economy has created an average of 173,000 jobs a month since July, up from 67,000 a month from April through June.
November 2, 2012
by The Canadian Press
WASHINGTON—US employers added 171,000 jobs in October, and hiring was stronger over the previous two months than first thought. The unemployment rate inched up to 7.9% from 7.8% in September because the work force grew.
The Labor Department’s last look at hiring before the presidential election on Nov. 6 sketched a picture of a job market that’s gradually gaining momentum after nearly stalling in the spring.
Since July, the economy has created an average of 173,000 jobs a month, up from 67,000 a month from April through June.
Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt.
The rate ticked up because more people without jobs started looking for work. The government only counts people as unemployed if they are actively searching.
©The Canadian Press