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National Economic Outlook (October 2012)

National Economic Outlook (October 2012)

Unemployment in September fell to 7.8% (according to government stats) but otherwise the economic situation was pretty much as it has been for the last six months: improving but at a slow rate.  Employment was up 1.4% over last year, with health care and business services providing the bulk of new jobs, as usual.

Some interesting developments: jobs in car manufacture were up 7% as car sales increase 9%; jobs in truck transport were up 4%, signaling that companies are confident enough to increase inventories; the hemorrhaging of teaching jobs has finally stopped; restaurant jobs were up 3%; and jobs in real estate and construction edged upward after years of contraction.

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