The U.S. Labor Department reported the economy added 263,000 jobs in September and that the unemployment rate came in at 3.5%. it was 3.7% in August. It was the 20th straight month of positive job growth and unemployment matched the 3.5% low of the last 50 years. Wages were up 5% for the year and 0.3% from August.
The negative noise machine once again got it wrong in predicting the job numbers would be disappointing for September. They are also still calling for an economic recession that could take place if the Feds act irresponsible in raising interest rates. The noise machine would like to see the President and the economy fail so bad they will stay in their negative mood of mis-information and lies into the future.
The last time the unemployment rate was under 3.5% was in January 1969 when it hit 3.4%. Job creation on President Biden's watch has been robust in his first 20 full months in office in keeping with the precedent set by past democratic administrations concerning job creation. Job seekers are finding jobs and they have money to spend to keep the economy moving forward despite inflation.
The negative noise machine lacks the character to say anything positive about the economy, job creation, lower unemployment and how wrong they have been in preaching doom and gloom. They are counting on lies and misinformation to sway the American voters because they have no positive record to run on.
President Biden and the democratic party represent the few sane and steady voices in Washington on Democracy and the economy while the negative noise machine continue to live at the bottom of the barrel. And once again it is a democratic administration that has reversed the job losses, higher unemployment and a failed economy of the previous GOP administration.
This commentary written by Joe Lorio
