The Work Rate: US economy adds 171,000 jobs, unemployment rises

Posted: November 2, 2012 in Jobs, Unemployment Rate
Tags: , ,

JOBS sign on the U.S. Chamber of Commerce building in Washington, D.C.

By Henry Kerali

The U.S. economy added 171,000 jobs in the month of October, with the unemployment rate rising to 7.9 percent, a 0.1 percent increase from September, according the U.S. Bureau of Labor Statistics.

The numbers come just four days before the presidential election showdown between President Barack Obama and Republican rival, Mitt Romney. With much of the political rhetoric this election season centered on the economy and jobs, the timing of the announcement could prove decisive. However, the statement from the Bureau concluded that October’s figures were essentially unchanged from that of the previous month.

And despite concerns to the contrary, the Bureau also confirmed that Superstorm Sandy, which struck the East Coast on Oct. 29, had no discernible impact in the recording of the numbers. Furthermore, the data collection of the figures were completed before the storm took place.

(This photo was taken by vpickering, via Flickr, using a Creative Commons license.)

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