Fact: 163,000 new jobs for the month of July but a revision to this number is somewhere in the future. It always is and it usually is revised downward.
Fact: the 80,000 new job estimate, for June, was revised down to an even more pathetic 63,000, with this current report.
Fact: 153,000 folks quit the workforce, altogether, in July, giving us a net net of 10,000 addition workers – but no one will mention this number.
Fact: the unemployment number rose to 8.3% using Obama’s new set of numbers as his Administration figures such things. Using the same numbers as in 2009, unemployment stands at 11.4%.
Fact: the U-6 percentage, those who are [admittedly] unemployed or underemployed, rose to an even 15%.
Fact: 86,000 folks left the workforce in June to move into Social Security. That number will be the same or higher, for July, of course.
Conclusion: sometime this morning, Obama is going to announce the good news found in this morning’s. He will go back in time and argue that the economy is trending up, but he can’t make that argument if he goes back four months. It is trending down and if you believe otherwise, well, you can be made to believe that “half white is black,” or transgendered folks are normal, or Joe Biden is one of the best VP’s in the history of this nation. Whatever.
In short, there is no escaping the fact that the news of today is absolutely devastating to the Obama campaign.