U.S. job growth remains steady in final pre-election report

Updated
Those hoping the final jobs report ahead of Election Day might shake up the campaign season are going to be disappointed.

The Bureau of Labor Statistics reported this morning that the U.S. economy added 161,000 jobs in October, which is roughly in line with projections. The unemployment rate inched lower, dropping from 5% to 4.9%. It’s the 13th consecutive month the rate has been at 5% or lower.

As for the revisions: August’s job totals were revised up, from 167,000 to 176,000, while September’s were also revised up, from 156,000 to 191,000. Combined, that’s a net gain of 44,000.

Over the last 12 months, the overall economy has created 2.35 million new jobs, which is a pretty healthy number. And with two months remaining in 2016, the U.S. remains on track to create over 2.1 million new jobs this calendar year. What’s more, October was the 73rd consecutive month of positive job growth, which is the longest on record.

Above you’ll find the chart I run every month, showing monthly job losses since the start of the Great Recession. The image makes a distinction – red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration.

Update: Here’s another chart, this one showing monthly job losses/gains in just the private sector since the start of the Great Recession.



Second Update: One more, this time showing the unemployment rate in the Obama era:







Rachel Maddow Show Charts

U.S. job growth remains steady in final pre-election report

Updated