Unemployment down to 4.9% with 161,000 jobs added in October
It’s good news for the economy, in spite of what Republicans want you to believe.
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The U.S. economy added 161,000 jobs in October, a solid gain, yet below the 191,000 jobs added in September, according to the Labor Department. It is the last look at the health of the economy for Americans voters before they cast their ballots.
Unemployment fell a tick to 4.9%. That’s down by half since 2009, when unemployment peaked at 10%.
October’s gains marked the 73rd consecutive month of job gains for the U.S. economy.
Wage growth — one of the last metrics to move in the right direction post-recession — continued to show signs of accelerating. Wages grew 2.8% in October compared to a year ago, the fastest monthly growth since June 2009.
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