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Following the Bureau of Labor Statistics’ release of the October jobs report, FreedomWorks Senior Economic Contributor Stephen Moore commented:
“Today’s jobs report is a big improvement over the lousy last six months. And it’s a positive sign that wages rose. But there are still reasons to be concerned about the state of the economy. The labor participation rate remains stalled at its lowest point in decades and the number of long-term jobless ticked up. The biggest fall in employment under Obama has been of young people, which is very troubling for the future.”
“What’s more, gross domestic product grew at a marginal pace in the third quarter, rising only 1.5 percent. What remains to be seen is consistency. The severe lack of pro-growth policies has held growth $2 to $3 trillion below where it normally would be in a recovery.”
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