The U.S. Labor Department announced that 156,000 new jobs were created in September and the unemployment rate was 5%, up from the 4.9% in August. It was the 79th straight month of positive job growth. More and more people are flocking to the job market says Sung Won Sohn, an economist at California's State University Smith School of Business.
Other good news: (1) 400,000 people began looking for jobs that had been unemployed because the word has been spread there are jobs to be had. (reason why unemployment ticked up one tenth of one percent) (2) Average hourly pay for September was up 2.6% than it was a year ago. (3) Consumer satisfaction index increased in September over August and now stands at its highest level since 2007. (4) The National Retail Federation is forecasting holiday sales this year will be up 3.6%, higher than it was last holiday season.
The republican party and its Presidential nominee are still preaching economic doom and gloom in this election year and are still living in their own fairy tale world brought about by their own party's past failures. They stopped living in the real America long ago.
This commentary written by Joe Lorio
