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US Economy Adds 261k Jobs in October

  • #Economic conditions & trends
  • #Finance
  • #Labor
  • #Unemployment
story
NOV 2022
Image copyright: VIEWPRESS/CORBIS/GETTY IMAGES [via Wall Street Journal]
story last updated NOV 2022

The Spin

Democratic narrative

Though it may seem counterintuitive, the slowdown in job growth from last year — while the market remains strong — means the Fed's interest rates are working. Though the economic recovery is slow, it's heading in the right direction under Biden's leadership, and Republicans don't seem to have any plausible alternatives if they were to win the midterms.

Washington Post

Republican narrative

While this report may seem optimistic on the surface, the reality is far from this: slowing job growth, combined with record inflation and rising unemployment, signals that a Biden-induced recession is on the horizon. The so-called "positives" of this job report won't be enough to carry Democrats through the final stretch of the campaign trail.

Restoring America

Metaculus Prediction


Political split

LEFT

RIGHT

Hiring stayed strong in October, with U.S. employers adding 261,000 jobs
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