Fox News
Expand
Browse All Video
Watch Live

You're watching...

Obama feeling the heat from new jobs report

Details

  • Description

    What do latest numbers mean for the president?

  • Duration 3:10
  • Date

Clips

Also in this playlist...

Editor's Picks

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Good evening I'm Bret -- today's main jobs report could have been worse for President Obama.

But not by much US employers created just 69000.

Jobs the fewest in the year.

The unemployment rate increased from eight point 1% to eight point two.

And Wall Street took the news hard with stocks down significantly.

The Dow lost 275.

Today the S&P 500 dropped 32 the NASDAQ fell eight.

We have -- team coverage tonight Fox Business network's senior Washington correspondent Peter Barnes looks at the markets and overseas reaction.

But we begin with chief White House correspondent Ed Henry on what the numbers mean for this -- President Obama move toward -- Honeywell facility that makes home thermostats is feeling the political heat we should be well led to a very robust recovery by now presumptive Republican nominee Mitt Romney simply called the jobs report devastating.

As he quickly sent the stock market reeling.

Faced now with forty straight months of unemployment over 8% the president acknowledge the economy is still not where it should be.

Our -- -- upgraded almost four point three million new jobs.

Over the last one in seven months but.

As we learned in today's jobs report.

We're still not rated them as fast as we want before raising campaign cash in Minneapolis and Chicago the president blamed the jobs report on the turmoil in Europe we've had a crisis.

In Europe's economy.

That is having an impact worldwide and it started casts a shadow on our own as well so we've got a lot of work to do before we get to where.

We need debate Romney aides still the president doubted 2009 he'd have it turned around -- one term it even predicted unemployment would be around 6% by now.

Republicans say time is running out after a week of reports showing increased unemployment claims sliding consumer confidence and economic growth revised down.

Their policies have made it harder for the economy to recover.

I think that's one of the reasons why people looking for for a new direction.

The numbers are worse if you count every one out of work whether they're looking for a job working part time when they won a full time job or have simply given up the search that number often called the real unemployment rate is now up to fourteen point 8% it shows skittishness among employers.

If anything this goes off script a bit and of course Europe is going way off script.

They pull back and they stop hiring the president is also running out of moves he can make between now and November.

-- Democrats are pushing for more infrastructure money Republicans are waiting for other action first.

-- -- upon the Republicans to stop stalling on the transportation bill.

Create jobs now thirty bills -- in the United States senate.

And -- big mud they pick up the bills and pass can help the American people's got -- -- politics over there.

At one of the fund raisers today the president charged that there's a Republican fever to beat him.

And declared that when he wins the election he'll beat that fever and get Republicans to support his agenda adding.

It will be good for the economy.

Brett and had a lot in the White House briefing room Ed thank you as we told you Wall Street.

Load More