Bad U.S. jobs report could give another boost to Mitt Romney
By Frank Quaratiello | The Boston Herald | October 5, 2012
Today’s jobs report could help GOP nominee Mitt Romney land another campaign blow after his strong debate performance against President Obama.
The Department of Labor releases the U.S. unemployment rate and how many jobs were created in September — the penultimate reading on the jobs picture before Election Day.
Currently, the unemployment rate stands at a dismal 8.1 percent — higher than it has ever been for a president’s re-election since the Great Depression. The economy added 96,000 jobs in August, compared to 141,000 jobs in July.
While some economic indicators are showing positive signs, most economists expect another weak jobs report and a slight increase in the unemployment rate.
“It’s hard to see how economic growth would occur with the European economy in so much trouble and the ‘fiscal cliff’ unresolved,” said Northeastern University economist Alan Clayton-Matthews. “There’s no reason things should be picking up right now.”