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Political involvement should be a requirement for citizenship

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White House reacts to the good October employment report (VIDEO)

November 6, 2015 By Egberto Willies

White House excited about October employment report

The October Employment Report is out. The White House’s reaction while low key is positive on some tidbits in the report that points to a fairly strong economy.

Jason Furman, Chair of the White House Council of Economic advisers said that the report had some important positive information. He said that wages growth is much better than previous. He said jobs are being added at the fastest pace since 2000.

Furman said workers are finally starting to see the gains of the economy. Concerns remain for the unemployment of African Americans and Latinos. They are at 9.2% and 6.3% respectively.

The New York time reported the following.

The American economy added 271,000 jobs in October, the government reported Friday, a very strong showing that makes an interest-rate increase by the Federal Reserve much more likely when policy makers meet next month.

The unemployment rate dipped to 5 percent, from 5.1 percent in September. Average hourly earnings also bounced back, rising 0.4 percent in October after showing no increase in September; that lifted the gain to 2.5 percent over the last 12 months, the healthiest since 2009.

The combination of the surge in job creation, rising wages and the falling unemployment rate all increase the pressure on the Fed to finally move on rates after months of debate and uncertainty amid economic turmoil overseas. It also largely puts to rest any lingering fears of a new recession and suggests that the economy is likely to continue to improve as the nation heads into an election year.

 

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Filed Under: General Tagged With: employment, employment report, unemployment report

About Egberto Willies

Egberto Willies is a political activist, author, political blogger, radio show host, business owner, software developer, web designer, and mechanical engineer in Kingwood, TX. He is an ardent Liberal that believes tolerance is essential. His favorite phrase is “political involvement should be a requirement for citizenship”. Willies is currently a contributing editor to DailyKos, OpEdNews, and several other Progressive sites. He was a frequent contributor to HuffPost Live. He won the 2nd CNN iReport Spirit Award and was the Pundit of the Week.

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