Labor Department: No delay for employment report

It appears America's jobs market is on the mend. Jobless claims have hit a three-year-low. Jim Axelrod reports on what's behind the good news and what it means moving forward.

WASHINGTON A Labor Department official tells CBS News correspondent Bob Fuss there should be no delay in the release of the monthly employment report. It's expected to be released this Friday at 8:30 a.m. ET.

The closely watched report is the final snapshot of employment before the Nov. 6 presidential election.

There had been some speculation the report would be delayed as a result of Superstorm Sandy. Preparation for the jobs report typically ramps up in the week of the release. The federal government was closed Monday and Tuesday due to the storm.

On Monday the Labor Department had issued a statement saying, "It is our intention that Friday will be business as usual regarding the October Employment Situation report."

The last report, released on Oct. 5, showed that the economy had added 114,000 in September and that the unemployment rate had dropped to 7.8 percent.

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