Chart of the Day: Net New Jobs in October

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The American economy added 271,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at a brisk 181,000 jobs—nearly all of it in the private sector. Not bad! The headline unemployment rate ticked down to 5.0 percent, and virtually of this gain was because more people were employed, not because folks were dropping out of the labor force. This is pretty good news if it translates into wage growth too.

Which it did. Hourly earnings of production and nonsupervisory employees were up 5.3 percent on an annualized basis, and weekly earnings were up an impressive 9.1 percent, which suggests workers are getting more hours and more overtime.

There’s really nothing much to dislike about this jobs report. As usual, it carries the risk that it will prompt the Fed to raise interest rates, but I think that’s inevitable at this point barring some kind of economic catastrophe. And a small increase won’t have much effect anyway. Now let’s see if we can keep this up through the holiday season.

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Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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