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After weak jobs report, 4 more chances for Obama to show economic growth

Posted By yihan On July 6, 2012 @ 7:17 am In Money Watch | Comments Disabled

FoxNews.com [1]
Friday, July 6, 2012

Four more chances.

That’s what President Obama’s got left to prove he’s helped turn the economy around — with just four more monthly jobs reports remaining before the November election. Those reports could determine whether he gets four more years.

The last three employment snapshots released by the Labor Department have been persistently weak, and marked a distinct slowdown from earlier in the year. In the latest report, the department said employers added a meager 80,000 jobs in June, leaving the unemployment rate unchanged at 8.2 percent. The number of jobs added in June was lower than expected, and rounded out a poor second quarter for 2012.

The average number of monthly jobs created in the first quarter of the year was 226,000 — by contrast, that average in the second quarter was just 75,000.

With the economy typically polling as the top issue in the 2012 race, Obama is now under heavy pressure to demonstrate a turnaround sometime between July and October. A cascade of weak jobs reports between now and then would not bode well for his chances, though the president thus far has kept the edge over Mitt Romney in many battleground state polls.

Full story here. [1]


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URLs in this post:

[1] FoxNews.com: http://www.foxnews.com/politics/2012/07/06/employers-add-just-80000-jobs-in-june-unemployment-rate-stays-at-82-percent/

[2] Warning Signs: FedEx To Slash Thousands of Jobs Citing “Weak Global Economic Conditions”: http://www.prisonplanet.com/warning-signs-fedex-to-slash-thousands-of-jobs-citing-%e2%80%9cweak-global-economic-conditions%e2%80%9d.html

[3] More Jobs Mirage In February—BLS Continues To Overestimate Job Growth: http://www.prisonplanet.com/more-jobs-mirage-in-february%e2%80%94bls-continues-to-overestimate-job-growth.html

[4] Labor Department Says No Decision Yet on Whether to Delay Jobs Report: http://www.prisonplanet.com/labor-department-says-no-decision-yet-on-whether-to-delay-jobs-report.html

[5] Jobs Market Barely Budges in June as Hiring Stays Weak: http://www.prisonplanet.com/jobs-market-barely-budges-in-june-as-hiring-stays-weak.html

[6] Microsoft Cuts 5,000 Jobs as Recession Curbs Growth: http://www.prisonplanet.com/microsoft-cuts-5000-jobs-as-recession-curbs-growth.html

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