October jobs report pleases economists, though unemployment ticks up to 7.9%

[pghin08]

http://news.morningstar.com/all/mark...oyment-79.aspx

Not bad at all, I suppose.

[MadMan1978]

171,000 jobs added meanwhile what is in the number and that the reason it increased is those who have started to look for work again...
that in it self is a good thing...

[Imac7065]

171,000 is like double last month when it went down to 7.8... this is very good news IMO

[pghin08]

That's the thing. The recovery is happening, it's just happening VERY slowly. People seem to think we're in a recession. We're not, we've been out of it for years now.

[Wickabee]

People seem to think any period where there isn't dancing in gold paved streets is a recession.

[mrveggieman]

As long as people cannot go out and do the same dumb things that caused the recession they still want to consider it a recession.

[pghin08]

People seem to think any period where there isn't dancing in gold paved streets is a recession.

It helps when one party is doing it's best to convince people that we're still in recession. You guys barely had a recession up there in Canada, and ours was over in the second quarter of 2009.

[Wickabee]

It helps when one party is doing it's best to convince people that we're still in recession. You guys barely had a recession up there in Canada, and ours was over in the second quarter of 2009.

I don't know if it's still the case, but Canada handled the economic fallout better than any other country and had what economists were calling the best economy in the world at one point.

[pghin08]

I don't know if it's still the case, but Canada handled the economic fallout better than any other country and had what economists were calling the best economy in the world at one point.

You guys assuredly did. Your regulatory environment and corporate governance policies are top notch, and the growth in emerging market economies has put a great emphasis on your robust natural resource presence. It wasn't that long ago though (just prior to the American tech boom) where you guys were in a lot of trouble. A lot of people (some here on SCF) like to criticize Canada. What the US needs to do is look to how you guys got out of your mess. Your debt was at one point around 125% of your GDP. Canada cut spending where it could, overhauled the welfare system, and changed your tax structure all around. Now I think your debt to GDP ratio is around half of the US.

[Wickabee]

Something like that, and we did it with a conservative, business first government. As much as I dislike Stephen Harper, he is ridiculously smart and his party handled everything beautifully while simultaneously winning election after election.