WASHINGTON (AP) – Just after a midterm election that was driven by voters’ anxiety about the US economy, the government is likely Friday to report the latest strong monthly job gain.
Employers are expected to have added 230,000 jobs in October, according to economists surveyed by FactSet. That would be in line with this year’s average monthly gain of 227,000, the best since 1999.
The unemployment rate is forecast to remain at a six-year low of 5.9 per cent. The report will be released at 8.30am Eastern time.
The healthy job growth has highlighted a contradiction laid bare by Tuesday’s election results: According to most broad measures, the economy is improving steadily and nearing full health. Yet most Americans say they remain anxious about it.
“I think there’s a great deal of frustration that the economy should be doing better and that people feel they should be doing better,” says Mark Vitner, an economist at Wells Fargo.
That view was evident in Tuesday’s exit poll results. Nearly 60 per cent of voters said they thought the economy was stagnating or worsening. Only one-third saw it as improving.