Heritage Employment Report: October Jobs Numbers Slowly Rise

The Bureau of Labor Statistics report showed lackluster growth with a few silver linings, reporting that the U.S. economy created 80,000 total jobs in October, and the unemployment rate had a slight decline to 9 percent. The best news is that the report was not worse—the economy appears less likely to dip into a second recession than it did a few months ago. Part of the responsibility for the current stagnation rests on factors outside the control of the government. Unfortunately, the Administration’s policies have also contributed to the malaise. The stimulus wasted hundreds of billions of dollars that could have been put to productive use, while the threat of future tax increases discourages investment today. The Administration should promote policies that encourage economic growth and entrepreneurship instead of pushing another stimulus bill.

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