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Job Creation in October Brings Gloom

Citing Statistics from the BLS, the Center for American Progress a Washington think tank, reported today that job growth figrues for the month of October were a meager 92,000. Taking these figures and adding them to this quarter’s base, the Center argues no recovery since the Great Depression has posted such a slow rate of job creation. Construction, the big job creator over the past two years has slowed dramatically. The average sales price of a home is off by ten percent nationally. Add to this a weakening job market and the holiday season starts to look really grim. Fearing the worst, even Walmart is taking anticipatory action in response to fears of a weak Christmas sales season. Hoping to get a jump on the competition, the giant retailer announced today its intention to discount big ticket electronics products. Concern is that this action could spark a retail price war among Walmart’s major competitors. Whatever happens on Tuesday, one of the first items of business for the next Congress has got to be to get the economy going again. No more jobless recovery.