October Capped a Blockbuster 36 Months of Job Creation - Best Since 2000

Graphic: The New York Times

Yes, the October jobs numbers are by themselves expectation shattering: 271,000 jobs were added, and the unemployment rate fell to 5%, the lowest in seven and a half years, that is, since well before the Bush economic crash of late 2008. That extends the longest streak of private sector jobs growth in US history to now 68 months; taking to 13.5 million the number of jobs added in that period.

But the numbers are actually even more notable in light of the longer term: in the past three years, the economy has added more jobs - 8 million, to be exact, which makes an average of a little over 220,000 jobs per month - than at any time since 2000. You know, that time when the federal government had a surplus and the US was in the midst of the longest economic expansion in history. As FiveThirtyEight reminds us, October's jobs report actually levels out the weaker gains in August and September, making those month's numbers outliers, not this month's.

These are numbers that are important to remember, not just whip Right wing whackjobs who bash the President's record, but also to pummel the Left wing reactionaries who are now going around claiming President Obama is planning to ship jobs overseas with the Trans-Pacific Partnership.

Use this thread to discuss today's jobs report and use it as an open thread.



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