The economy added 118k jobs in November, if you go by the ADP report, or 146k jobs if you go by the noisier official number. Let’s call it 118k because we’ve consistently touted the value of the ADP report. By any measure, it was a lot more than was expected, given the landfall of hurricane Sandy at the end of October.
Now that the election is over, there is growing optimism that the economy is indeed … growing. It’s not a lot, but it’s there. And that’s where we stand as we move into the next phase of the political season – the part defined by getting down to work and making use of the mandate given by voters. That mandate is clearly defined by a divided Congress and a Democratic President who are at odds over how to either avoid the Fiscal Cliff or, perhaps, go over it.
Even if the election didn’t tell us much, the economy is. We’d be wise to listen to it.