The news media followers are focusing on the better than expected 163,000 new jobs in this morning’s report and not commenting on the 8.3% unemployment rate. Our unemployment rate has now held above 8% for 41 consecutive months. A chief economist at ITG called the 163,000 new jobs ‘soft’ saying: “If you want to take from this the idea that the economy is about to accelerate, I think that would be a big mistake.”
Daily News: “With just three months left before Election Day, President Obama got some badly-needed good news on the jobs front Friday… better-than-expected 163,000 jobs in July.”
Romney just after the release of the numbers: “President Obama doesn’t have a plan and believes the private sector is doing fine. Obviously that is not the case.” He commented on the consecutive months above 8%.
CNS: “There were 195,000 fewer people employed in the United States in July than in June, according to the Bureau of Labor Statistics, as the national unemployment rate ticked up from 8.2 percent to 8.3 percent. Meanwhile, 150,000 people simply dropped out of the labor force during the month and did not seek to find a job.” More people left than entered.
It’s almost a full term for Obama and recovery is 163,000 jobs? Unemployment is 8.3% and GDP will be 1.5 going into the elections. Food stamps is a new record, Iran is getting close to the nuke, the post office is busted, businesses… must supply contraceptives, our military must shrink… and he’s bragging about 163,000 jobs.