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151K Jobs Added; Unemployment at 9.6 Percent
By not in system - AOL NewsWASHINGTON (Nov. 5) -- Employers added the most jobs in five months in October, with the education and health care sectors leading the way. But the unemployment rate, measured by a separate survey of households, remained stuck at 9.6 percent for the third straight month. The Labor Department said Friday its survey of employers showed a net gain of 151,000 jobs last month, the most since May. Wall Street analysts expected a smaller gain. Private employers hired 159,000 workers, while governments at all levels shed only 8,000 jobs, a much better showing than September's sharp drop. ...
Economists: Not As Smart as You Think (Or Are They?)
By Joann M. Weiner - Politics DailyEconomics appears to have replaced the law as the profession of ridicule. In April, for example, Business Week ran a cover story asking, "What Good Are Economists Anyway?" given that they failed to predict the worst recession since the Great Depression. More recently, Paul Krugman, writing for the New York Times, asks "How Did Economists get it So Wrong?"Krugman's "it" presumably refers to predicting the financial crisis. With his Nobel Prize in economics, Krugman's criticism of his profession is not likely to be ignored, and it shouldn't be. In his lengthy article for the Times, Krugman ...
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