It looks quite impressive for President Barack Obama. He managed to bring forth over 5.6 million jobs under his first year as president. October landed 170,000 jobs. Not bad at all!
Although nothing will satisfy the Republican critics, President Barack Obama delivered his promise to bring jobs to the American people.
CNBC reports that economists had been expecting the report to show a net of 125,000 new jobs and a steadying of the unemployment rate at 7.8 percent. Nomura Securities predicted the rate would fall to 7.7 percent, but most expected no change.
Most of the job creation came in the services sector, with a gain of 150,000, while government employment rolls saw a collective decrease of 13,000, according to the report from the Bureau of Labor Statistics.
"The labor market continued to improve in October, generating 171,000 new jobs, providing a needed boost to recovering consumer sentiment and bolstering optimism for the upcoming holiday season," said Ken Goldstein, economist at The Conference Board.
Markets reacted positively to the report, with stock market futures indicating a broadly positive open on Wall Street.
A broader measure of unemployment that includes discouraged workers and those employed part-time who would rather work full-time ticked lower to 14.6 percent.
But unemployment for blacks showed the highest increase in the survey, surging to 14.3 percent from 13.4 percent.
Also, the average duration of unemployment climbed to a 2012 high of 40.2 weeks.
Mitt Romney will continue his final push to win the important state of Ohio. He will be here with Congressman Paul Ryan (R-Wisconsin), Ann Romney, Kid Rock, state and federal lawmakers, Frank Luntz, and surprise guests (likely Mark Levin, Sean Hannity or Bill Cunningham).
President Barack Obama will be in Ohio also with Vice President Joe Biden, First Lady Michelle Obama, Bruce Springsteen, Jay-Z and others in the final days.
The election is November 6, 2012.
Beat the lines and tactics by the conservative media!
Put Barack Obama back into the White House.