Jobs report: U.S. economy adds 171,000 jobs in October; Obama saved by Hurricane Sandy? [AM Briefing]

November 2, 2012

U.S. economy adds 171,000 jobs in October, unemployment rate ticks up to 7.9 percent: U.S. employers added 171,000 jobs in October and hiring was stronger over the previous two months than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent in September because the work force grew. (Washington Post)


Analysts had expected 120,000 jobs to be created. The private sector added 184,000 jobs, while the public sector lost 13,000. The number of jobs created in August was revised up from 142,000 to 192,000, and September was revised up from 114,000 to 148,000. The wider U-6 measure of underemployment fell slightly to 14.6. (ThinkProgress)

Storm saves Obama from himself: “If President Obama had the time for some introspection on the campaign trail, he might take offense at all the media speculation (and in many cases wishful thinking gussied up as speculation) that his response to Hurricane Sandy will give him the edge going into Election Day,” writes AEI’s Jonah Goldberg. (National Review)

Problems in Hurricane Sandy recovery: “Sooner or later, New York will recover from the physical effects of this week’s super-storm, just as it did from the cataclysm of 9/11. But as the focus shifts from emergency response to long-term recovery, state and local officials will find themselves grappling with budgetary challenges in some ways even more daunting and complex than those created by the destruction of the World Trade Center,” writes Manhattan Institute’s E.J. McMahon. (New York Post)

Room for Debate asks: In September, The Times reported that New York City might be “moving too slowly to address the potential for flooding that could paralyze transportation, cripple the low-lying financial district and temporarily drive hundreds of thousands of people from their homes.” This week, the theory was tested, as Hurricane Sandy flooded parts of all five boroughs. Could sea gates or storm barriers help to prevent future flooding in New York City? Are they cost effective? Or is there a better alternative? (New York Times)

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