One headline read: "Grim jobs market confronts Obama, Fed". The economy is weak and a big problem for an incumbent president.
Jobs growth slowed sharply in August, setting the stage for the Federal Reserve to pump additional money into the sluggish economy next week and dealing a blow to President Barack Obama as he seeks re-election.
Nonfarm payrolls increased only 96,000 last month, the Labor Department said on Friday.
While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, that was because so many Americans gave up the hunt for work. The survey of households from which the jobless rate is derived actually showed a drop in employment.
In addition, President Obama's supporters are not energized. Time columnist Joe Klein wasn't impressed.
The President gave a fine speech Thursday night. His vision of the country is much closer to the place where I live–and I daresay where most Americans live–than Mitt Romney’s. It is an America that includes truck drivers and teachers and auto workers as well as Romney’s beloved entrepreneurs. Obama laid out the case against Romney’s constricted vision in a very effective way: “If you have a cold, they say take two tax cuts and roll back some regulations and see us in the morning.” He was, of course, defter, funnier, more profound than Romney. He told basic truths like “global warming is not a hoax.” He made no absurd promises. He recognized the difficulty of our situation. He acknowledged mistakes. But he did not close the deal. The speech disappointed me, and I’m not quite sure why.