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The Spectacle Blog
Today’s lack-of-jobs report couldn’t be bleaker. Even an Obama-leaning news service like Reuters has nothing good to say. It’s even given up on trying to spin in the president’s favor. Perhaps the only good news for Democrats is that they had no balloons last night to toss around and so it can’t be said that the air has gone out of them and any post-convention bounce:
WASHINGTON — U.S. jobs growth slowed more than expected in August, setting the stage for the Federal Reserve to pump additional money into the sluggish economy next week and dealing a blow to President Obama as he seeks reelection in November.
Nonfarm payrolls increased only 96,000 last month, the Labor Department said on Friday. While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, it was largely due to Americans giving up the search for work.
The report’s weak tenor was also underscored by revisions to June and July data to show 41,000 fewer jobs created than previously reported. The labor force participation rate, or the precentage of Americans who either have a job or are looking for one, fell to 63.5 percent — the lowest since September 1981.
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More Blog Posts by Wlady Pleszczynski
http://spectator.org/blog/2012/09/07/jobs-report-black-friday
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JD| 9.7.12 @ 12:44PM
How many liberals posted on blogs yesterday about how horrible it was for the Republicans that the economy was looking so good, after yesterday's reports?
Today they blame House Republicans for this, and don't spend a second thinking about their cognitive dissonance.
Bob Grant| 9.7.12 @ 1:06PM
"...Today they blame House Republicans for this,..."
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And how much blame should be assigned to the democrats in congress who voted against his budget? ...and by the way, ALL democrats voted against his budget.
spike59| 9.7.12 @ 2:11PM
are you KIDDING????? on MSDNC, they've been CHEERING...Morning Joe and Minka the Mindless have been high-fiving since the accouncement!
BD57| 9.7.12 @ 1:33PM
"unexpectedly!!!!!"
Mike G| 9.7.12 @ 1:41PM
Well, since the figures always get revised downward the week after they are released, I wonder how bad the real numbers are.
Stan Redmond| 9.7.12 @ 1:47PM
BUT BUT BUT. Today Hilda Solice, our brilliant labor secretary, says this is good news. The 368 thousand people who dropped out of the workforce are actually "youngsters" going to college.
Occam's Tool| 9.7.12 @ 3:13PM
Things will spike up for the better after November 6th, 2012.
It's an interesting historical fact that the Brockton Blockbuster beat the snot out of Jersey Joe Wolcott in Chicago in their rematch. I expect to see the match between the new Massachusetts Mauler and the exhausted current champion have a similar outcome.
Obama's goin' Down!