Chart of the Day: Net New Jobs in October

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Monika Bauerlein,
CEO

Dear Reader,

December is make-or-break for Mother Jones’ fundraising. We have a $350,000 goal that we simply cannot afford to miss. And in "No Cute Headlines or Manipulative BS," we explain, as matter-of-fact as we can, how being a nonprofit means everything to us. Bottom line: Donations big and small make up 74 percent of our budget this year and are urgently needed this month, and all online gifts will be matched and go twice as far until we hit our goal. Please pitch in if you can right now.

December is make-or-break for Mother Jones’ fundraising, and in "No Cute Headlines or Manipulative BS," we hope that giving it to you as matter-of-fact as we can will work to raise the $350,000 we need to raise this month. Donations make up 74 percent of our budget this year, and all online gifts will be matched and go twice as far until we hit our goal.

The American economy gained 245,000 jobs last month and the unemployment rate declined slightly to 6.7 percent:

Overall, we’ve lost about 10 million jobs in 2020. As always, though, I’d caution everyone not to read too much into these numbers. November’s job gains are disappointingly small, but there’s really no reason to think we’re going to get the bulk of the lost jobs back until the middle of next year, when (hopefully) the pandemic recedes.

Nearly every industry showed (small) gains from October with one exception: government. We should expect that to continue unless Congress passes a relief bill that includes money for states and cities.