The U.S. Labor Department announced the economy created 12,000 jobs in October and that the unemployment rate was unchanged at 4.1%. It was the 45th straight month of positive job growth even though lower than the monthly average. The Department also reported claims for unemployment continue to be low. The Federal Reserve announced they reduced interest rates by 1/4%.
The U.S. economy continues in a positive direction, despite the negative voices who have been active since President Biden took office in January of 2021. And when President Biden's administration leaves office in January 2025, the country's economy will be in much better shape than when he took office.
For those who follow facts and history, the record tells us that process has taken place over the past 72 years. And that is not just a coincidence.
This commentary written by Joe Lorio
