337,000 new jobs added in October

[TitanTiger 20,518]

Job growth soars

October report shows greatest strength in employment since March, easily topping forecasts.

November 5, 2004: 10:06 AM EST

NEW YORK (CNN/Money) - U.S. employers added far more jobs in October, the best performance in seven months, according to a government report Friday that came in well above Wall Street's expectations.

The Department of Labor report showed a net gain of 337,000 jobs to nonfarm payrolls in the month, up from the revised 139,000 gain in September. Economists surveyed by Briefing.com were looking for a gain of 175,000.

It was the best gain since a 353,000 job increase in March kicked off three months of strong hiring. But job growth had generally lagged behind forecasts ever since May until Friday's report.

The unemployment rate came in at 5.5 percent, which despite the big jump in jobs was up from the 5.4 percent rate in September. Economists were expecting the unemployment rate to stay at 5.4 percent. The unemployment rate edged up because the Department of Labor's household survey estimated there were 367,000 more people looking for work in October than September.

Some economists who believed the earlier low job-growth number in September had been impacted by three major hurricanes that month suggested some of the strong October growth and the upward revision was due to adjustments for the storms.

"I think this report clearly shows that we got a hurricane bounce back," said Anthony Chan, senior economist for J.P. Morgan Fleming Asset Management. "It also puts the possibility of a Fed rate hike in December back in play."...

http://money.cnn.com/2004/11/05/news/econo...dex.htm?cnn=yes

[CCTAU 3,350]

But Al Shrpton assured us on Hannity & Weak last night that all of those jobs were flipping burgers.

Damn, you people eat a lot of burgers.

[WarTim 3,457]

Okay, so we know that 336,999 of these were lawyers hired by the libs to take over Ohio.

Soooooo, WHO got the OTHER job and at what fast food franchise?

[Tigermike 3,057]

To be fair, 71,000 of those jobs are in Florida and a result of the Hurricanes. But on the bright side, the construction jobs in Florida & the Gulf Coast of Alabama will continue for the next year or so.

[CCTAU 3,350]

So, you are saying since the hurricanes were Bush's fault (according to tree huggers), that Bush single-handedly created over 71,000 jobs.

What a guy!

[Tigermike 3,057]

Now there is a thought I hadn't had. Turn it back on them.