More than expected as unemployment stays at 9.6%

151,000 jobs added in October

The October jobs numbers are out.

Unemployment stayed at 9.6%, but there was better than expected job creation:

U.S. employment increased more than expected last month as private companies hired workers at the fastest pace since April, offering more signs of an up-tick in a sluggish economy.

Nonfarm payrolls increased 151,000 in October, the first increase since May, as a 159,000 jump in private employment more than offset a 8,000 drop in government payrolls, the Labor Department said on Friday. In addition, the government revised payrolls for August and September to show 110,000 fewer jobs lost.

Economists had expected payrolls to increase 60,000 last month, with private employment rising 75,000.

It goes without saying we need more of this. Unfortunately with the election results as they are ... we're most likely to see less of this for years to come.