Only 113,000 Jobs?
Yes, the Bush Economy is slowing down, just as the midterms approach and just as Karl Rove planned to run on it this fall. The Labor Department reported that only 113,000 new jobs were created across the nation in July, which was below the prediction of economists that an anemic 145,000 new jobs would be created last month.
And for all those Bush cheerleaders who ignore the jobs number to boast about a relatively meaningless unemployment rate number, there’s no silver lining there either, as the unemployment rate went up to 4.8% in July, contrary to expectations that it would hold steady at 4.6%. And the time the unemployed spent searching for work jumped from 16.2 weeks in June to 17.3 weeks in July.
I wonder how Bush will spin the fact that his economy can't even average 130,000 new jobs a month over the last several months?