What Shutdown? Job Growth Strong In October

Posted at 11:52 AM, Nov 08, 2013
and last updated 2013-11-08 11:52:55-05
help_wantedNEW YORK (CNNMoney) — The U.S. economy added 204,000 jobs, according to the Bureau of Labor Statistics. That was well above economists’ expectations. Plus, there was more good news about hiring during the late summer. Revisions showed an extra 60,000 jobs were created in August and September.

“The economy seems to be heating up faster than people think. It’s incredibly impressive,” said J.J. Kinahan, chief strategist for TDAmeritrade.

Economists were expecting weak job growth due to uncertainties created by the budget battles in Washington. The federal government shut down on Oct. 1, after Congress failed to agree on a budget for fiscal 2014. The standoff lasted 16 days and left as many as 800,000 federal employees temporarily out of work.

But the Labor Department noted “there were no discernible impacts of the partial federal government shutdown” on the job growth numbers.

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