The “Patriots” in the Republican party woke up to some bad news today – despite their aggressive efforts to keep the economy down, and despite their obvious attempts to sabotage the middle class, the resilience of the American people cannot be defeated and today, and Republicans learned that the unemployment rate fell to 7.7%.
The Bureau of Labor Statistics reported an increase in non-farm payroll employment by 146,000 and a decrease in the unemployment report to 7.7%, surpassing consensus expectations of 80,000 jobs and an uptick in the unemployment rate.
Bill McBride: “With all the uncertainty about the impact of Hurricane Sandy, this was a decent report, especially with the decline in the unemployment rate. However, negatives include the downward revisions to prior months, and the decline in the participation rate.”
