Home Budget, Economy BLS: Despite Superstorm Sandy, Unemployment Rate Drops to 7.7% (lowest in 4...

BLS: Despite Superstorm Sandy, Unemployment Rate Drops to 7.7% (lowest in 4 years)


Great news:

The Bureau of Labor Statistics reports that the U.S. economy added 146,000 jobs in November, nearly double the projections. What’s more, the overall unemployment rate dropped to 7.7%, its lowest point in four years.


To be sure, 146,000 jobs isn’t evidence of a robust economic recovery, but given Sandy-generated expectations, the figures come as a pleasant surprise

Now, just imagine how good things would be if: a) we hadn’t gotten into the “Great Recession” in the first place under George W. Bush’s administration; b) Republicans hadn’t been obstructionists the entire first four years of President Obama’s first term; c) Republicans hadn’t caused the U.S. credit rating to be downgraded; d) Republicans hadn’t created the very “uncertainty” they decry; and e) we hadn’t had the public sector job losses we had, thanks to Republican refusal to provide more aid to the states? By the way, what ever happened to that supposed “socialist” (actually an Eisenhower/George HW Bush-style moderate through and through) Barack Obama destroying the economy? Yeah, that’s why the stock market doubled, the housing market’s rebounding, unemployment is way down from its Great Recession peak, consumer spending is up, etc., etc. Not that Republicans will easily abandon their narrative of that scary black/Muslim/Kenyan/radical/blahblahblah in the White House, but they really should check out this thing called “reality” once in a while, I strongly recommend it! 😉


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