171,000 jobs gain beats expectations

The Bureau of Labor Statistics final jobs report of the 2012 election cycle is BTE. The 171,000 jobs created exceeds the ADP estimate released earlier in the week. The unemployment rate ticked up to 7.9% because more workers rejoined the ranks of job seekers. This is the 33rd consecutive month the economy has added jobs. In addition to the October jobs growth, the BLS raised the previously released numbers for August (+142,000 to +192,000) and September (+114,000 to +148,000)