After an energized Democratic convention celebrating President Barack Obama that cranked up activists to go out and win him a second term, the tepid jobs report released Friday delivered a sobering dose of reality to the White House — and created political openings for the Romney-Ryan ticket.
Unemployment continues to be the greatest threat to Obama’s re-election — with two more jobs reports due before polls open on Nov. 6. With early and absentee voting starting in October — and undecided voters starting to make up their minds — Obama doesn’t have time left to whip up a major turnaround.
The stats: The August monthly numbers show a slight dip in the jobless rate — from 8.3 percent to 8.1 percent — with the numbers higher in key battleground states. Some 96,000 jobs were created in August, down from 141,000 in July.
The Obama team played it as upbeat news because jobs continue to be added to the economy, even if they bemoan the slow rate of growth. There have been 30 straight months of private sector growth.Continue reading →