Just two days ago, analysts were remarking about how bad our economy is (once again), because of the market tanking over 300 points.

But now, things are looking bright again because the economy added double the number of jobs that those same analysts had predicted.

Employers added twice as many new jobs to their ranks than expected in October, an encouraging sign that the nation’s employment climate is not cracking under the stress of a deepening housing slump.

The Labor Department reported Friday that the nation’s payrolls grew by a net 166,000, the most in five months. The unemployment rate didn’t budge at 4.7 percent, a figure considered low by historical standards.

Job gains were logged at schools, hospitals, bars and restaurants, hotels and motels, temporary-help firms, legal services, accounting and bookkeeping companies, the government and other places.

We’ve had 50 straight months of uninterrupted job growth, which sure doesn’t sound like a “bad economy” to me. Then again, no one has sneezed today.

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