Unemployment Inches Up to 7.9%

Posted by on Nov 02, 2012 at 8:34 am

They at least massaged it enough so Obama can claim it’s below 8%.

U.S. stock index futures climbed Friday after a better-than-expected monthly government jobs report, the final report ahead of the presidential election topped expectations.

Economists polled by Thomson Reuters forecast non-farm payrolls rose by 125,000 in October, an increase on September’s 114,000 gain. The unemployment rate is seen inching up to 7.9 percent, after falling to 7.8 percent in September. The jobs report will be the last issued before the general election on November 6.

The government will also release factory orders for September at 10 a.m. on Friday. Economists polled by Reuters forecast a 4.6 percent rise in orders, after a 5.2 percent fall in August.


2 Responses to “Unemployment Inches Up to 7.9%”

  1. Esau's Message on 2/02/12 at 9:27 am

    As soon as the election is over, all the numbers will be revised and it will pop back up over 8%. The BLS has completely trashed its credibility over the last 3 months.

  2. rich b on 2/02/12 at 12:38 pm

    I wonder how many States the BLS have “accidently” left out in this latest report.

    Gee whiz, I’m starting to wonder if this is politically motivated.