This was not the employment report either American workers or the Obama campaign were hoping for. A huge miss. It shows the U.S. labor market remains in a deep depression, generating few jobs and little if no income growth.Continue reading.
Also, Instapundit has more here and here.
And still more at the Wall Street Journal, "Slow U.S. Hiring May Spur Fed":
America's employers added jobs at a tepid pace in August, posing a re-election challenge for President Barack Obama and raising the likelihood the Federal Reserve will step in to spur growth when it meets in the coming week.People give up after awhile, especially with the clusterf-k Democrats in office.
The Labor Department employment report, which draws more than its usual scrutiny as elections approach, said the U.S. added a seasonally adjusted 96,000 jobs last month. That is down from the 141,000 added in July and too few to make headway in putting the nation's 12.5 million unemployed workers back on the job.
The unemployment rate ticked down to 8.1%, from 8.3% in July, but for the wrong reasons. The jobless rate, based on a separate survey from the main job tally, fell as people gave up searching and left the workforce, not because they found positions.
More at the link, with graphs.
RELATED: Here's that bounce, from Gallup, "Obama Bounces Up to 52% Approval, 48% to 45% Over Romney." Not that big a bounce, actually, and they're ephemeral in any case, especially with these job numbers. The mellow is harshed.