Chart of the Day #2: Net New Jobs in October

The American economy gained 250,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at a respectable 160,000 jobs. The unemployment rate stayed steady at 3.7 percent.

Wages of production and nonsupervisory workers were up at a monthly rate of 0.31 percent and a year-over-year rate of 0.86 percent. That’s not bad at all.

Finally, the labor force participation ticked up 0.2 percent. Assuming that the increase was the same for prime-age workers (age 25-54), it means that prime-age workers are continuing to enter (or re-enter) the labor force. We’re still about a percentage point below where we could be, but that’s a guess since there’s been a secular decline in the participation rate for both men and women ever since 2000, so we don’t really know where we “should” be in the first place.

BLS warns that Hurricane Michael may have affected the employment numbers, but probably not significantly. So with the usual caveat that one month doesn’t mean a lot, this was a very nice employment report, especially the wage data.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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