November 8, 2013

WINNING:

What shutdown? Job growth strong in October (Annalyn Kurtz, November 8, 2013, (CNNMoney)

What shutdown? Job growth unexpectedly surged in October, even as the federal government closed its doors for 16 days.

The U.S. economy added 204,000 jobs, according to the Bureau of Labor Statistics. That was well above economists' expectations.

Plus, there was more good news about hiring during the late summer. Revisions showed an extra 60,000 jobs were created in August and September.

"The economy seems to be heating up faster than people think. It's incredibly impressive," said J.J. Kinahan, chief strategist for TDAmeritrade.

Economists were expecting weak job growth due to uncertainties created by the budget battles in Washington. The federal government shut down on Oct. 1, after Congress failed to agree on a budget for fiscal 2014. The standoff lasted 16 days and left as many as 800,000 federal employees temporarily out of work.

But the Labor Department noted "there were no discernible impacts of the partial federal government shutdown" on the job growth numbers.

Posted by at November 8, 2013 8:30 PM
  

blog comments powered by Disqus
« NOR TO ANY OTHER ORGANISMS: | Main | EVALUATE AND DELIVER: »