Four days until the actual election day, and the one thing that could have tossed a rather sizable wrench into the works was the unemployment picture, which if you’ll recall dropped down below 8% a few weeks back, causing the GOP to lose its collective shit and start blaming non-appointed positions at the Bureau of Labor Statistics for playing politics with the numbers to help aid Bronco Bamma’s re-election chances.
Today’s report wasn’t terribly rosy, as Unemployment ticked up slightly to 7.9% for the last month, when more people joined the work force (good!) but not all of them found jobs (bad!). But there are some things to be taken from this: Of course, we’d all love the recovery to move faster, but that’s not where we’re at. I’d like to ride a unicorn to work, but I also don’t have that option. But the positives, in my opinion, outweigh the negatives in a pretty substantial way. Construction jobs improving means the housing market may be turning around at last, and that affects all of us.
Consider: 578,000 people joined the labor force, with “only” 410,000 of them finding jobs.
This is what recovery looks like. I’m sure Congress will act any moment now to make that stop.
Someone get Jack Welch on the phone. [Read more…]