Kevork Djansezian/Getty Images
Job seekers and an employment fair at the Los Angeles Convention Center, October 7, 2010.
The last jobs report before the mid-term elections came in with a 9.6 percent unemployment rate for September, unchanged from the month before, and underscoring that the impact the sickly economy will most assuredly have on November 2nd's election results.
Not only did the new jobs report highlight that unemployment is still uncomfortably close to double-digits but it also contained the even more bad news that the economy lost a net 95,000 jobs during September.
Economists interviewed by The Wall Street Journal and Bloomberg had expected either no net loss of jobs or perhaps a few thousand job losses.
What it means politically is there will be no respite for the Obama Administration and congressional Democrats who will remain on the defensive since the new data give them little to go on the offensive with.
Democrats will continue to be hammered by Republicans who will accuse them of mismanaging the recovery by threatening to raise taxes while the recovery is still weak.
Almost on cue, House Minority Leader John Boehner (R-Ohio) just blast e-mailed a statement. An excerpt:
“This disappointing jobs report demonstrates the pressing need to immediately enact the Pledge to America and help end the uncertainty caused by Washington Democrats’ out-of-control spending spree and job-killing policies.
Senate Majority Leader Mitch McConnell piled on, criticizing the administration and congressional Democrats for being the problem, not the solution, when it comes to the economy:
“Americans are speaking out, and they want Washington to focus on jobs. But with each passing month, and each new jobs report, it becomes increasingly clear that while massive Washington spending is growing the size of government, it’s clearly not growing sustainable private-sector jobs. The trillion-dollar stimulus didn’t live up to promises made by the Obama administration and Democrats in Congress; the massive growth of the federal government didn’t result in a similar growth of jobs; and the maze of new regulations, health care mandates and taxes are having a predictable impact on the economy.
Combined with the jobs reports of recent months, Friday's report will do nothing to help President Obama improve his job approval numbers.
For instance, CBS News released a new poll Thursday evening showing that only 38 percent approved of his handling of the economy, a fairly devastating number.