Chart of the Day: Net New Jobs in October


The American economy added 204,000 new jobs in October, but about 90,000 of those jobs were needed just to keep up with population growth, so net job growth clocked in at 114,000. That’s not bad. In addition, revisions to previous months increased previous estimates for August and September by 60,000 new jobs. That’s the good news.

The bad news is that the labor force participation rate fell, and the headline unemployment rate increased from 7.24 percent to 7.28 percent. However, unlike the job growth numbers, this is based on a separate survey that counts furloughed government workers as unemployed, so it’s not very meaningful. It will bounce back down next month.

Overall, then, the news was reasonably good, if not spectacular, but tainted by some artificial job losses due to the shutdown. We’ll have to wait until next month for a clearer picture.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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