IN NORMAL TIMES GOP WOULD WALK IN

Oct. jobless rate at lowest rate in five years Nonfarm payroll rise 92,000, big upward revisions to Aug and Sept.

WASHINGTON (MarketWatch) - The U.S. labor market is on firmer footing than expected, according to the latest government statistics released Friday. Although U.S. nonfarm payrolls grew by a lower-than-expected 92,000 in October, this was not the entire picture. The unemployment rate fell to 4.4%, the lowest level since May 2001, the Labor Department reported Friday.
Economists were expecting payroll growth of about 123,000, according to a survey conducted by MarketWatch. The jobless rate was expected to remain at 4.6%. Adding to the sense of strength, payrolls in August and September were revised higher by a cumulative 139,000 in October, and a sharp 238,000 drop in unemployment. The separate household survey showed robust job growth of 437,000.

Forgot: I know most of you think Pat Buchanan is an asshole, but he has a must read both at World Net Daily and at Real Clear Politics.