October Unemployment Rate at 4.4%, Lowest in 5 1/2 Years … All part of that Bad Economy We hear About

 

More economic reporting from Hooverville. The October unemployment rate is at a 5 1/2 year low at 4.4%. Interesting we do not hear more about the economy in the news during this midterm election. Could it be because its a beneficial topic to incumbent Republicans?

The unemployment rate fell in October to 4.4 percent from 4.6 percent in September. It was the lowest unemployment rate since 4.3 percent in May 2001 and was likely to fan concerns that labor markets are growing tight and could contribute to inflation pressures. (Reuters)

  • Unemployment rate drops to 4.4% from 4.6% in September
  • 139,000 more jobs were created in August and September than it had previously thought.
  • 230,000 new jobs in August instead of 188,000 as originally reported
  • Average hourly earnings rose 0.4 percent to $16.91 – higher than the 0.3 percent that analysts had anticipated
  • Over the year, average hourly earnings have risen by 3.9 percent

 

There is a simple choice out there. With all the rhetoric, name calling, nasty ads and gotcha last minute election politics prior to November 7 one thing is a fact and for certain. Republicans are for lower taxes and Democrats are for higher ones. People need to really take a look as to why the economy has rebounded like it has since the .com bubble collapse and 9/11. Its not about government interference, its about letting people spend their own money. For those who think tax breaks have only affected the rich, has anyone taken a look at their 401k statements lately? Retirement plans are not just for the rich anymore.

Elections do matter.

Posted November 3, 2006 by
Economy | 4 comments


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  • Comments

    4 Responses to “October Unemployment Rate at 4.4%, Lowest in 5 1/2 Years … All part of that Bad Economy We hear About”

    1. John on November 3rd, 2006 1:28 pm

      It’s the WAR, Stupid! People are getting killed in Iraq that’s why the unemployment rate is down. Aren’t numerous jobs being outsourced? And we are getting in unpayable debt. Wake up!

    2. omnipotentobserver on November 3rd, 2006 5:25 pm

      Don’t forget about the thousands of people whose unemployment benefits ran out. They don’t count anymore when looking at unemployment statistics and that makes it look like unemployment rates are dropping…

    3. R-squared on November 5th, 2006 10:33 am

      And let’s not lose track of how many jobs were gained or lost by US Citizens and how many were grabbed up by illegal immigrants. Figures don’t lie but liars often figure.

    4. Ramlady on November 6th, 2006 1:11 am

      #2; yes let’s not forget about them; they are the ones who are sitting at home watching Rosie and Oprah all day. Maybe if they could motivate themselves to pull their humps off the couch, they could manage to find ONE of those jobs all the Mexicans don’t seem to have any trouble finding. Many of them work two or three jobs.

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