Over 2 Million Unemployed And Obama
Thinks 96 Thousand Jobs Is Great
The economy added 96,000 jobs in August, a paltry figure that threatens to undermine President Obama’s case for a second term as he tries to carry forward momentum from the Democratic National Convention.
The unemployment rate fell to 8.1 percent from 8.3 percent, according to the Bureau of Labor Statistics, but only because more people gave up on looking for work. Economists had expected upwards of 150,000 new jobs last month.
Friday’s report — one of the final updates on the job market before the November election — was a buzz kill for Democrats after a rousing week in Charlotte, N.C., that seemed to recapture some of the excitement from Obama’s 2008 campaign.