Unemployment rate rose, but for good reason. 578k people joined labor force, only 410k of them found jobs.
— Neil Irwin (@Neil_Irwin) November 2, 2012
The economy added 171,000 jobs in October and unemployment ticked up slightly from 7.8 to 7.9 percent as more people entered the labor force, according to Friday's jobs report, the last before the presidential election. The September jobs report was revised from up from 114,000 to 148,000 jobs created (a reminder that these initial numbers are usually wrong).
The report beat expectations from analysts, who predicted a gain of 125,000 jobs. But the news is not so good (or so bad) that is likely to change the dynamics of the presidential race or the fight over the economy. Democrats will argue that the economy is slowly improving; Republicans will argue that it's not enough. Here's Brad Dayspring, adviser to a Republican super PAC:
JOBS REPORT: 7.9% unemployment, 171,000 job. Status quo. not terrible, but far under what America needs to keep up with population growth.
— Brad Dayspring (@BDayspring) November 2, 2012