Unemployment is set to rise again in the US if the pace of jobs growth continues to erode, a top economist warned Wednesday. Mark Zandi, the chief economist of Moody’s Analytics and a former adviser to presidential candidate John McCain, made his comments as ADP, the giant payroll provider, said the private sector added 130,000 jobs from September to October. ADP revised September’s job gain down from 166,000 to 145,000. Moody’s helps compile the closely-watched poll. "The government shutdown and debt limit brinksmanship hurt the already softening job market in October. Average monthly growth has fallen below 150,000. Any further weakening would signal rising unemployment,” said Zandi.And Mark Zandi should know, the people who organized the shutdown and the debt limit idiocy were the people who used to pay him.
But thanks the the sequester, for one example, it's all part of the bipartisan clusterfuck that will have everybody pointing fingers for the indefinite future while the bulk of the country struggles mightily.
[cross-posted at Firedoglake]