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The much-anticipated October jobs report, the last major economic release before Nov. 6, is out and it continues to show a U.S. economy slowly edging forward on the path of recovery. At 171,000, the number of jobs added last month beat expectations, which were hovering around a gain of 125,000 payrolls. The politically important unemployment rate, however, edged up a tick, rising to 7.9 per cent from 7.8 per cent in September, likely a sign that discouraged job seekers are looking for work again.
None of this challenges the candidates’ narratives on the state of labour market, which run more or less like this:
