Breaking News: 151,000 private sector jobs created in October

[flpoljunkie]

Employers add 151K jobs; unemployment at 9.6 pct.
The Associated Press

Friday, November 5, 2010; 8:36 AM

WASHINGTON -- Employers added the most jobs in five months in October, with the education and health care sectors leading the way.

But the unemployment rate, measured by a separate survey of households, refused to budge. It remained stuck at 9.6 percent for the third straight month.

The Labor Department says its survey of employers showed a net gain of 151,000 jobs last month, the most since May. Wall Street analysts expected a smaller gain.

Private employers hired 159,000 workers, while governments at all levels shed only 8,000 jobs, a much better showing than September's sharp drop.

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/05/AR2010110501087.html

[babylonsister]

1. Erin Burnett said these numbers are great, higher than expected.

I'm sure we'll hear all about how negative this is. I hope it's the start of a trend myself.

[flpoljunkie]

6. This was more than twice what they expected according to MSNBC.

[bigdarryl]

2. DAMN!!!!!!!! hope the unemployment rate drops

[LawnLover]

3. WOW -- the Republicans work fast!!

Thank god they took over the House.

[fugop]

5. HA! You beat me to it!

I'm sure that will be the spin, right? As things improve, we'll hear it's all because of the new slew of Republicans - never mind that they're not in office yet, they're MAGIC!

(Kind of like Obama is to blame for all the things that happened before he took office, and CLinton is to blame for all the things that took place after he left office. How do those crafty Republicans manage to make people believe that? It's gotta be some weird kind of hypnosis thing!)

[LawnLover]

8. Sadly,

the great unwashed will believe them. I'm sure many people think the Repugs have already taken over. I've stopped watching the news because I got tired of hearing everyone say how the Republicans are in power now. What a load of bullocks. Come January, the Republicans will control the House, the "lesser" of the two Congressional houses. Without a veto-proof majority, the ONLY power they'll have is the power to compromise.

But most people out there aren't paying much attention and never do.

[SunsetDreams]

10. "never mind that they're not in office yet, they're MAGIC!"

:rofl:

[karynnj]

11. Probably - even though the jobs were gained not just before they got in office, but before they won

These are October numbers. The fact is by any metric commonly used, the economy has been turning around for some time.

The stock market is often called a leading indicator because it recovers before the real economy. Yesterday the DJI was back to early September 2008 levels. This also was not due to the Republicans winning - they were already very very close. What is interesting is that many luxury stocks (Tiffany etc) are back to the higher 2007 numbers. The question is whether as that segment of the market - affecting the top third revives, will something be done on the long term structural problems that have made the other part so bad.

[dennis4868]

4. I am sure the 24/7 cable news people...

will put a VERY NEGATIVE spin on this report....they have because it goes against their narrative - stimulus not working.

[budkin]

7. Great news. Too bad this didn't happen 2 months ago

[FBaggins]

13. More like six months ago

But yeah. Too bad.

[bushisanidiot]

9. Thank you, President Obama!!!

I've still got your back!

[SunsetDreams]

12. excellent news!!!

Too bad this wasn't an October Surprise. Now we are stuck with a House, that will do anything to try and reverse or spin any progress, so it makes Obama look bad.

[denimgirly]

14. Hey, at least Obama finally has some good news! Here is hoping this gives him Guts

to trash repubs extension of tax cuts for the rich. doubt it but still nice to imagine an alternate universe from time to time.

[Clio the Leo]

15. Boehner has been silent on the matter so far. nt

[WI_DEM]

16. If unemployment starts to fall by 2012--Obama will be unbeatable if we can get it under

8%

[jillan]

17. This is a prime example of the Democrats needing to control the messaging.

Or else this will just be another positive story for this administration that flies under the radar.

[Yavin4]

18. This Is The Stimulus At Work

The jobs are showing up because of the stimulus spending.

[Phx_Dem]

19. And it had absolutely nothing to do with Republicans, who contributed zilch.