Another month, more Americans find work and the economy gets stronger. But Democrats stayed silent, refusing to talk about the improving economy and record jobs creation during the midterm campaign season, allowing Republicans to push their narrative that the “economy is falling apart.” And that narrative is what voters believed when they gave Republicans the Congress on Tuesday.
The U.S. created 214,000 jobs in October, nudging the unemployment rate down a notch to 5.8%, as many companies added workers to gear up for the holiday season. The economy has now added 200,000 workers or more for nine straight months, a feat last accomplished in 1994. Economists polled by MarketWatch had expected a seasonally adjusted gain of 243,000 nonfarm jobs. So far in 2014 the U.S. has gained an average of 229,000 jobs a month, the fastest pace since 1999…
The labor-force participation rate, meanwhile, edged up to 62.8% from 62.7% as more people looked for work. Employment gains for September and August were revised up by a combined 31,000. The government said the 256,000 new jobs were created in September, up from a preliminary 248,000. August’s gain was raised to 203,000 from 180,000.
