It’s the first Friday in July which means one thing- - JOB REPORT FRIDAY!
The June job numbers were released today and any way you look at them the number are not good.
The unemployment rate stayed at 8.2% and the American economy only added about 80,000 jobs.
In the last 3 months the number of jobs created hit a two year quarterly low. Another record we wish we haven’t hit - the longest stretch of unemployment above 8% since 1948. It’s been above 8% since February, 2009.
There are two ways to look at the job report from today- the economic side and the political side. But if you subscribe to the notion that the worse the job numbers are the Republicans will benefit and the Democrats will suffer then it is really hard to separate the two.
To discuss this further we went to the two best economic minds we know. Jared Bernstein and Peter Morici.