Sunday, August 5, 2012

First Thoughts: Better (but still not great) jobs news for Obama

Better (but still not great) job news for Obama: 163,000 jobs added in July, while unemployment rate ticks up to 8.3%... An ode to Congress on its August recess: We salute you -- for not getting much done… Put up or shut up: More Harry Reid vs. Mitt Romney… And Romney camp/RNC try to distract the Obama campaign. Well, the July jobs numbers are in, and they are better news for President Obama than they’ve been since the early spring. Here’s the AP’s write-up: “U.S. employers added 163,000 jobs in July, a hopeful sign after three months of sluggish hiring. The Labor Department says the unemployment rate rose to 8.3% from 8.2 % in June. July's hiring was the best since February. Still, the economy has added an average of 151,000 jobs a month this year, roughly the same as last year's pace.” As we said before, anything above 150,000 new jobs per month is good news for Obama. But expect Mitt Romney and the Republicans to focus on the slight tick up in the unemployment rate. The president will likely comment on the job numbers at his 11:45 am ET event at the White House, which is scheduled to press Congress to extend the Bush-era tax cuts for the middle class. Meanwhile, we’ll certainly get reaction from Romney, who campaigns in Las Vegas around the very same time. Advertise | AdChoices An ode to Congress on its recess: For those who have departed on their August recess, we salute you -- for going down as one of the most unproductive, contentious, and unpopular Congresses in modern history. So in addition to last summer’s debt-ceiling debacle, the Super Committee’s failure, and the near-government shutdown during 2011, Congress has failed to come together to pass a comprehensive farm bill. And Senate Republicans yesterday filibustered a cybersecurity bill. So here’s your current Congress: Republicans are working to block or dismantle laws; Democrats are focusing on protecting what’s already law; and no one is getting stuff done. As we wrote earlier this week, one of the most profound changes on Capitol Hill is the job requirement. It’s no longer about bringing home deliverables to your state or congressional district (like roads, bridges, or new schools). Instead, it’s about scoring ideological points and waging partisan crusades.

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