The Last Jobs Report Before the Election: Our Vindication, Our Next Step

[sheshe2]

Spandan Chakrabarti | November 4, 2016

This morning, the last jobs report before the elections is out. In October, the US economy added 161,000 jobs, bringing the total to 15.5 million since the beginning of the Obama recovery. That continues the longest stretch of private sector job creation in history. The unemployment rate ticked down slightly to 4.9%, and the recent trend of incomes finally rising
in a meaningful way kept pace. In fact, real wages are now rising faster than at any business cycle since the 1970s. Finally, the percentage of those working part-time for economic reasons or marginally attached to the workforce or discouraged have dropped to near pre-Great Recession lows.

Those numbers would be impressive under any circumstance, but take a moment and consider, one last time before next Tuesday's election, just how far we have come under the leadership of that skinny kid with the big ears, a funny name, and deep patriotism. No one can say it hasn't been an exciting ride, and no one can discount the grit, dedication and perseverance despite universal and unprecedented obstruction from those who found their political fortunes more important than rebuilding our country after they caused economic calamity not since the Great Depression.

Exactly eight years ago tonight, we made history and elected Barack Obama and Joe Biden. Eight years ago tonight, we began to right the ship in a country in the middle of a Great Recession, a country bleeding 800,000 jobs a month, every month, savings being wiped out, homes being lost, credit drying up. In the middle of the greatest despair in living memory, we chose hope.

More Here: http://www.thepeoplesview.net/main/2016/11/4/the-last-jobs-report-before-the-election-how-far-we-have-come

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Eight years ago tonight!

I love this President.

[ismnotwasm]

1. K&R

[former9thward]

3. Real wages are not increasing.

They have been basically stagnant for about 40 years now. Friday's report also said 94 million plus are out of the labor force. A record. But I guess they don't count in this great economy.

[sheshe2]

4. Link?

Oh and thanks so much for bashing the President. You expect him to have done this alone?

What exactly does this mean????

Note: Data for production and non-supervisory employees on private non-farm payrolls.

Also that chart is 2 years old.

[former9thward]

9. Bashing the President?

What is that your attempt to get a post hidden? I said 40 years. Has Obama been president for 40 years? What has happened in the last 2 years. Link your self.

[sheshe2]

10. Well I sure did not alert on you.

I asked for a link.

You sure are a nasty one. Night night!

PS Obama rocks!

[bhikkhu]

7. Of those "94 million", most of them have every reason not to work

Being in high school, college, or retirees over 65. Of the 40 million left - a very many of them are on disability; I know several people on disability myself, some working as much as they are able, some not. There are also many people who don't have to work, having earned and invested well, and able to retire before 65. I know I would if things went that way, though I'm not holding my breath.

The short answer is that the "94 million" out of work is a right wing obfustication, designed to make people think that the country is full of angry people who would work the dickens out of a good job if only the economy hadn't been destroyed by the democrats. In fact, there are discouraged workers, but not that many - something under a million as the BLS figures indicate. Even in some of those cases jobs would be possible if not for individual reasons. I am making a little under the median wage myself. If I were willing to move, I could easily make over the median, but I don't want to - I like it where I am, and my paycheck covers things just fine.

[brer cat]

5. What an 8 years!

We have been blessed to have this man after the disaster of bush.

K&R

[sheshe2]

6. ;)

Yes we have brercat!