You know the saying…”It’s the economy stupid!”. Democratic strategist James Carville coined the phrase back when Bill Clinton was running for president, and basically, when the economy is doing well, the ruling political party stays in power.
This is great news for Hillary Clinton, because October jobs numbers were released Friday, and they are GREAT!
U.S. employers added 161,000 jobs in October and the unemployment rate fell to 4.9% as the labor market maintains steady improvement. The Labor Department’s report is the last one before Election Day, giving Hillary Clinton and Donald Trump a final chance to make their cases on how the economy would run under their watch.
Jobs growth was revised up by 44,000 for the previous two months. In August, jobs went up to 176,000 from a previous estimate of 167,000, and September got a boost to 191,000 from 156,000.
Payrolls have grown on average by a healthy 176,000 over the past three months. In the past year, hourly earnings have risen by 2.8 percent, the fastest since June 2009.
Take that Donald!