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Breaking: Jobs Report Easily Beats Expectations, Unemployment Remains Low

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Jobs added to the United States economy beat expectations in the month of October, according to a report by Fox Business.

The economy added about 250,000 jobs in October, maintaining the 3.7 unemployment rate, which is the lowest in almost 50 years.

The private sector alone added 227,000 jobs, which was far above the expected 189,000.

Labor force participation rate also increased to 62.9 percent, up from 62.7 percent. Average hourly earnings rose by five cents to $27.30, which is the highest it has been since the Great Recession, Fox reported.

“We saw better-than-expected payroll gains at 250,000 jobs, surging wages and increased labor force participation,” said Mark Hamrick, a senior economic analyst for Bankrate.com.

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“That’s a kind of an economic trinity that we haven’t often seen during this economic expansion,” he added.

Economists noted that October might have taken repossession of some of the jobs lost in September due to Hurricanes Florence and Michael.

“It is possible that we recaptured some of the jobs not reported present in the September numbers,” Hamrick said.

Are you excited about the surging economy?

President Donald Trump noted the impressive numbers in a tweet on Friday, using it as an encouragement for voters to stick with Republicans in the upcoming midterm elections.

“Wow! The U.S. added 250,000 Jobs in October – and this was despite the hurricanes,” Trump tweeted.

“Unemployment at 3.7%. Wages UP! These are incredible numbers. Keep it going, Vote Republican!”

Vice President Mike Pence touched on the economic good news during an appearance on Fox Business, saying, “From the moment that this election was called two years ago, you saw confidence come back.”

The vice president credited the Trump administration’s new economic policies for reviving the U.S. economy, including their rollback of regulations and the tax reform that translated into relief for small businesses and working families.

“We’re setting one record after another and I think the American people see that and (Trump’s policies are) the reason why,” the vice president said.

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“We’ve been essentially unleashing the American economy.”

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Savannah Pointer is a constitutional originalist whose main goal is to keep the wool from being pulled over your eyes. She believes that the liberal agenda will always depend on Americans being uneducated and easy to manipulate. Her mission is to present the news in a straightforward yet engaging manner.
Savannah Pointer is a constitutional originalist whose professional career has been focused on bringing accuracy and integrity to her readers. She believes that the liberal agenda functions best in a shroud of half truths and misdirection, and depends on the American people being uneducated.

Savannah believes that it is the job of journalists to make sure the facts are the focus of every news story, and that answering the questions readers have, before they have them, is what will educate those whose voting decisions shape the future of this country.

Savannah believes that we must stay as informed as possible because when it comes to Washington "this is our circus, and those are our monkeys."
Birthplace
Houston, Texas
Location
East Texas
Languages Spoken
English
Topics of Expertise
Politics




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