This morning brought us yet another weak employment report, with the economy losing 131,000 jobs in July. It’s true that 143,000 job losses can be accounted for by the end of temporary cenusus jobs, but still, private sector job growth of 71,000 was still weaker than than expected. The unemployment rate remained at 9.5 percent.
Politically speaking, the difficulty for Democrats is that there are only two more job reports between now and the November elections, so they’re running out of time to change minds about their stewardship of the economy. And at this point, it’s increasingly unlikely that even one gangbusters report would change public attitudes — it would probably take a series of several months, or even quarters, of economic data.