Friday, November 2, 2012

US Economy Continues Forward Momentum

October's job numbers are out and it's good news: the final jobs report before Tuesday's election beat expectations, with 171,000 new private sector jobs created; the unemployment rate remains below 8% -- at 7.9%, up one tenth of a point from the big drop last month. This is actually good news: it means more people are joining the work force or are back in the job search. The government only counts people as unemployed if they are actively searching.

  • Unemployment benefit claims are down
  • Auto sales are rising
  • Home builders are increasing construction
  • Manufacturing is expanding
  • Gains in retail sales continue
  • Consumer confidence is at the highest level since a year before President Obama took office

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