October's jobs report offers surprises

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November 8, 2013, 5:55 pm
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(NECN/NBC News: Danielle Leigh) - According to Friday's jobs report, 204,000 people found work in October.

The uptick bucks dire warnings about the economic impact of last month's government shut down. Even so, economists say the battles in Congress are still taking a toll.

Economists put out two numbers: The unemployment rate which rose partly, because of temporarily furloughed federal workers and the number of people working part time which was also up.

After years of being cautious about hiring a Maryland-based fire protection company is bringing on new employees and looking to expand into D.C. and Virginia.

"We are hiring designers, we are hiring technicians and then what happens eventually is you end up having to hire administrative people," said Fireline Corporation President Anna Gavin.

It's companies like Fireline that contributed to a better than expected October jobs report.

It shows the U.S. economy added 204,000 jobs but the unemployment rate also rose slightly to 7.3 percent. That's partly because furloughed federal workers were temporarily counted as unemployed.

"The shutdown undeniably had a negative impact on the economy," Labor Secretary Thomas Perez said.

The number of people working just part time also increased slightly.

Some economists blame that on the Affordable Care Act.

"If you replaced two full-time jobs with three part-time jobs to avoid Obamacare mandates for example or some other issues, you increase employment but you really don't increase employment," said economist Peter Morici.

Friday, during a tour of the Port of New Orleans, President Obama said congressionally inflicted economic wounds must stop.

"We should not be injuring ourselves every few months we should be investing in ourselves," Mr. Obama said.

The President said a greater emphasis on U.S. exports and infrastructure projects will mean more jobs and a stronger economic future.

One more positive in Friday's numbers; The October report also found that in August and September combined 60,000 more Americans found work than previously reported.

Tags: government shutdown, US economy, danielle leigh, October jobs report, October jobs report government shutdown
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