Job Growth Turns 50, Accelerates

The Department of Labor has released its preliminary report on October's employment summary,  estimating an increase in payroll employment of 166,000 during the month.

Job creation has been not only positive, but accelerating over the last four months.  This seems like a good opportunity to check back in with Hillary Clinton in late September, when she lamented the woeful job market at a Women Impacting Public Policy meeting (the quotable comes just before the 5-minute mark in the video).

We could close this gap, create more employment at a time when our economy desperately needs more employment, and create millions of new jobs that will get us over this, you know, barrier that we're not creating jobs.  We lost 4,000 jobs in our economy last month.  We're not seeing the job creation.

The cherry-picked -4,000 anomaly turned out to be an inaccurate estimate, later revised upward to an increase of 93,000.

Today's report represents something of a milestone for the economy, as it marks the 50th consecutive month of positive job growth, a feat unequaled since the dawn of nonfarm payroll record-keeping (Reagan/Bush 41 came closest with their 48 month streak).

How we've managed to maintain a healthy economic footing for such an unprecedented length of time is of course anyone's guess.

Previously:
It's Official: Bush Economy Achieves Longest Period Of Job Creation On Record
D'oh! Economy Fumbles At the 1 Yard Line
47th Consecutive Month of Job Growth, 1 Away From Record
46th Consecutive Month of Job Growth
45th Consecutive Month of Job Growth
43rd Consecutive Month of Job Growth