October Jobs Report Shows Accelerated Job Growth, Confirms America is on The Right Track

Nov 02, 2012, 17:27 ET from Laborers' International Union of North America

WASHINGTON, Nov. 2, 2012 /PRNewswire-USNewswire/ -- The monthly jobs report released today by the Bureau of Labor Statistics shows accelerated growth in the U.S. economy with the addition of 171,000 new jobs in October. The unemployment rate in the construction industry fell to 11.4 percent last month with the addition of 17,000 new jobs, down from 11.9 percent in September. Terry O'Sullivan, General President of the Laborers' International Union of North America, made the following statement:

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Once again, the jobs report shows the president's economic policies are working. First-time jobless claims are down. Gasoline prices are down. Consumer confidence is up and the U.S. housing market is rebounding. Now, with the addition of 17,000 new jobs in the construction industry and 171,000 new jobs overall in October, one thing is clear – the economic policies of President Obama are accelerating us forward and renewing prosperity and opportunity in America.

The President's policies have created more than 5 million new jobs since 2010. Today's report verifies that we, as a nation, are on the right track. A second term for President Obama is essential to preserving our momentum and ensuring that investments in infrastructure, energy, transportation and the middle-class remain the focus moving forward, not the top 2 percent, as Gov. Romney advocates.

The half-million members of LIUNA – the Laborers' International Union of North America – are on the forefront of the construction industry, a powerhouse of workers who are proud to build America.

SOURCE Laborers' International Union of North America