America’s jobs recovery continued in October, as jobs were added for a sixth month in a row and the unemployment rate fell further, the monthly jobs report from the Bureau of Labor Statistics showed Friday. That said, the nation still remains down about 10 million jobs since February.
Votes are still being counted and it is yet to be decided who the next president will be. But whoever takes the White House has their work cut out for them. The US job market needs further fixing and the unemployed need more support to make ends meet.
The economy added 638,000 jobs last month, more than economists had expected. It was a slowdown from the prior month.The unemployment rate fell to 6.9% from 7.9% in September. It had been the highest jobless rate going into a presidential election.
***Remember folks, presidents do not create jobs, consumers do. Furthermore, these aren’t new jobs; they’re jobs we have recovered, as in some people have returned to work. But, we’re still down 10 million jobs because of the pandemic.