More Jobs Than Expected

The economy created 163,000 jobs in July, more than expected, and much better than the past four months.

But unemployment ticked up to 8.3%.

The numbers come from different surveys.  The jobs number comes from a business survey, while the unemployment number comes from a household survey.

The number voters focus on is the unemployment rate, and President Obama needs it to be heading down.

I’ve been hoping it would decline to 7.9% for the October report released days before the election.  Crossing that 8% threshold would be important psychologically.

2 comments on “More Jobs Than Expected

  1. seattle99 says:

    – “July jobless rate not statistically significant. Unrounded was 8.254%, up from 8.217% in June.”

    • Yes, I know, but the media always round, so you get 8.2 in June and 8.3 in July, and that’s what most voters see and hear. It looks as if the trend is moving in the wrong direction, even when we’re really talking tiny decimals because June got rounded down and July got rounded up.

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