Good news about the economy continued to pour in during Election Week. Predictably, the nation’s establishment press, obsessed with its self-appointed insistence that Joe Biden is the nation’s president-elect, virtually ignored it.
On Nov. 6, the government’s October jobs report revealed that the nation’s unemployment rate dropped a full point to a seasonally adjusted 6.9 percent, while nonfarm payroll employment increased by 638,000. The reported unemployment rate smashed expectations that it would only drop to 7.6 percent, while the employment increase beat expectations by 58,000.
The report’s detail was even stronger than its headline numbers. The survey used to determine the unemployment rate reported that an astonishing 2.2 million more Americans were working in October than in December, and that 1.5 million fewer were unemployed. The separate survey of employers used to report official job additions showed that the private sector added more than 900,000 jobs (the lower overall number was primarily due to the release of census workers