WASHINGTON – Today, the Bureau of Labor Statistics released the results of their payroll and household job surveys, showing 92,000 new jobs in October and a drop in the unemployment rate to 4.4 percent – the lowest level since May 2001.  Other positive economic news today includes:

• October was the 38^th consecutive month of job gains, and the 9th month of an unemployment rate at or below the average of the 60s, 70s, 80s, and 90s
• Job growth in September was revised up by 98,000 jobs to 148,000 jobs
• August numbers were revised up 102,000 jobs to 230,000
• The number of unemployed dropped by 238,000 and the number of long-term unemployed dropped 189,000
• There are 700,000 fewer unemployed Americans than one year ago

“The U.S. economy is vibrant.  More Americans than ever are working and they’re keeping more of their money, thanks to tax relief enacted since 2001,” said Ways and Means Chairman Bill Thomas (R-CA).  “Republican tax policies have amplified the economic growth across all sectors.  Democrats fought against this tax relief and claimed it would have negative effects – the facts have proven them wrong.”

The jobs report showed that since Republican tax relief in 2003, 6.8 million new jobs have been created and employment has expanded across broad segments of society:

Source:  Bureau of Labor Statistics

 

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