July Job Report: 163,000 jobs added but unemployment rate rose to 8.3%

The numbers will be used by both Obama and Romney to spin

In July, the economy added 163,000 jobs—Obama will want you to believe his policies are working, slowly but steadily (?)

However, the unemployment rate is now at 8.3%—a steady increase from 8.1% in April, May to 8.2% in June as reminded by Romney.

The 163,000 number is better than the monthly average of 151,000 this year. But it is not good enough for the 12.8 million who are unemployed.

The 8.3% unemployment rate number marks 3 straight years since June 2009—when the Bush’s recession ended—that Obama has not been able to bring this number below 8% mark.

Other numbers

From http://www.bls.gov/cps/ site:

—Change in unemployment level: +45,000 in July, 2012

—Change in employment level: -195,000 in July, 2012

—Change in work force level: -150,000 in July, 2012 (these people gave up search)

—U6 unemployment rate: 15% in July 2012 (including those who gave up search or took temporary part-time jobs)

—Hispanics unemployment rate: 10.3%

—African-American unemployment rate: 14.1%

—Long-term unemployed (27 wks or over): 5.2 million (potential loss of 5.2 million votes by Obama)

And when did Obama’s jobs council meet last? January 2012.

And since January, he went golfing more thn 10 times and held over 120 fund raising events.

What are his priorities?

 

Ch3 Nguyen

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