The news this morning, not news to most, is the disastrous jobs report with workforce participation at 30 year lows:
"The unemployment rate remains elevated, and the duration of joblessness is unprecedented for many," said Kathy Bostjancic, director of macroeconomic analysis at The Conference Board. "These conditions could easily stretch into the early months of 2013."Yeah, well, let's hope to God we have a new president then.
Republican VP candidate Paul Ryan up momentarily on CNBC.
Update. Pethokoukis with the infamous failed Obamanomics chart.
...More: At the rate of this month's jobs number:
– Each month, The Hamilton Project examines the “jobs gap” — the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while also absorbing the people who enter the labor force each month. If we added 96,000 jobs every month, we would not close the jobs gap until after 2025...Update: Ryan video: