By James Pethokoukis
Only in an era of depressingly diminished expectations could the September jobs report be called a good one. It really isn’t. Not at all.
1. Yes, the U-3 unemployment rate fell to 7.8%, the first time it has been below 8% since January 2009. But that’s only due to a flood of 582,000 part-time jobs.
I was expecting the Obama administration to use the levers of power to try to change the conversation from the horrendous debate performance of the president to something else–anything else. I think it just did.