(Image Source: Minority News)

BY ERICA COGHILL

After a lot of recent talk concerning a possible double-dip recession, finally, some are saying there’s some good news for the U.S. economy. But is it good enough? Friday’s release of the U.S. September jobs report shows an addition of 103,000 non-farm payrolls for the month.

But CNBC says while the numbers are an improvement from August’s report of 57,000 jobs... it’s still not enough to put the U.S. economy in the clear.   

“It’s much better than what we had a month ago, but it’s still not enough. It's not enough to erase the risk of recession, particularly if Europe goes down.” “No matter what these numbers say we still have a serious issue of long-term unemployment in the country.”
“These numbers are good, we will take them, but they are relative to very, very low expectations and they are certainly not good enough.”

But they were good enough for the stock market. According to The Wall Street Journal...

“U.S. stocks rose after an encouraging employment report showed that the U.S. economy added more jobs than expected last month, though weakness in the technology and financial sectors limited Friday's gains.”

And while September’s job numbers might be a sigh of relief for some, the unemployment rate remains at 9.1%... the same as August. Bloomberg says that’s not sitting well with Capitol Hill.

“The Speaker of the House, John Boehner, has been critical of this jobs report, saying our unemployment rate has been higher than 8 percent for more than 2 and a half years , far above what the Obama administration promised with the stimulus, they had been attacking those initial forecasts that were put out before that plan was passed and they are doing that both retroactively and trying to make an argument against the jobs plan the president has been trying to pass over the past two weeks.”

Despite that criticism, the Washington Post says the White House is also trying to use the report to its advantage—quoting a member of the Council of Economic Advisers.
 

“‘Clearly, we need faster economic growth to put Americans back to work … Today’s report underscores the President’s call for Congress to pass the American Jobs Act.’”


Politicking aside, an analyst with the Economist Intelligence Unit tells ABC News the U.S. economy must create about 200,000 jobs to actually start absorbing unemployment.


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