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Jobs Are Up, But Not Nearly Enough

Meanwhile, aggregate hours worked rose by only one-tenth of a percent in October and only 1.7 percent over the past three months at an annual rate. So even when you combine hours worked with hourly earnings, there’s still a shortfall in real income.

The best part of the jobs report is the recent surge in the household survey, which picked up 277,000 in October and has averaged 335,000 over the past three months. This is a good sign for small business, and it’s responsible for the small drop in unemployment to 9 percent from 9.1 percent. Continue reading

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