The Bureau of Labor Statistics released it’s monthly jobs report this morning. The numbers show that the employment situation in the country as a whole is getting better. The Unemployment rate has dropped to 7.7%, the lowest level in four years. Total non-farm payroll employment rose by 146,000 in November.
The improvement in the unemployment picture comes despite the effects of Hurricane Sandy which dealt a hard blow to jobs ans the economy on the east coast. The government said the storm, did not have substantial effect on employment in November.
“Our analysis leads us to conclude that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November,” said John Galvin, acting commissioner at the Bureau of Labor Statistics.
While the economy is still getting better, the Republicans in Congress need to stop their partisan intransigence and accept the fact that the Bush tax cuts for the top two-percent of Americans needs to expire. The cuts for the middle class, need to be extended, and the so-called “fiscal cliff” must be avoided if our economy is still going to grow.
The GOP forced the deal that created the “fiscal cliff,” and if they want to avoid the dramatic costs of that decision, they are the ones who need to compromise. President Obama has said for a long time that the solution to our deficit reduction is a balanced approach that combines real increases in revenue, specifically the expiration of the Bush era tax cuts for the top two-percent, and cuts in sppending.