BREAKING | June Jobs Report: 80,000 net new jobs 8.2% unemployment rate—
James Pethokoukis (@JimPethokoukis) July 06, 2012
The number of nonfarm jobs created last month fell slightly short of what analysts were predicting, delivering a modest blow to President Barack Obama’s re-election campaign.
Prior to the report, economists had estimated that at least 90,000 jobs would be created, which still would have been unspectacular. According to Politico, the economy requires between 100,000 and 125,000 new jobs per month merely to merely keep pace with the growing number of people in the U.S. labor market.
Obama is currently having breakfast with tire workers in Akron, Ohio, as news of the jobs report trickles in. He may have a more difficult time convincing blue-collar workers he deserves a second term in light of today’s mediocre numbers and the abysmal May jobs report released last month.
Predictably, the Left immediately tried to blame the weak numbers on Republicans:
Three and a half years into Obama’s term, and they are still talking about former President George W. Bush? Good luck with that.