Well it's that time. The last Jobs report was released today. I will fully admit that I was wrong about my prediction. The unemployment rate held steady at 9.6%. If you read the Reuters article you may be a little confused about nonfarm payroll and private payroll. It all boils down to the fact that we did lose jobs this past month but not really a whole bunch to cause the over-all percentage of unemployed to rise.
What does this mean for the dems and Obama? It remains to be seen but if the republicans are adept at campaigning as they ought to be then they can use this info to their advantage. I think we'll probably hear in the next week the phrase, "Summer of Recovery" a whole lot from the right and in the next breath talk about the stagnant job report. It was a poor idea when Obama announce that catch phrase. Now all the republicans have to do is yell. It's a pretty simple tactic and one that could potentially get people riled up if the republicans are eloquent enough in discussing the issue.
The democrats do have a way to fight back though. They could easily argue that because the unemployment percentage hasn't really changed it could mean that we've rounded the corner and are on our way back up. They could make the claim that their steps to recovery are working and that we need to give it more time. It's a good argument and one that may actually be true, but people are still angry and I think that even a good jobs report couldn't shake the current trend that people want to vote incumbents out of office.