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But Fox News alert the brand new monthly jobs report showing the US economy adding just 96000.
Jobs in the month of August.
Well it's a big signal of weakness in the labor market exactly sixty days out from Election Day.
Good morning everyone I'm Gregg Jarrett in for Bill -- here in America's news -- And I'm Heather Childers -- for Martha MacCallum now the unemployment rate.
From eight point 3% in July 28 point 1% last month but only because.
A growing number of Americans they are just they've given up looking for work.
This latest report coming after the president's acceptance speech at the Democratic National Convention.
Last night here now to talk about -- Stuart -- news anchor California company on the Fox Business Network now -- the White House is certainly -- -- look.
The total unemployment number came down a little bit what say you OK I say this is a flat out bad report on the state of the economy.
America simply is not -- will look -- every one job created last month.
For people just dropped out of the workforce we now have a lower proportion of people actually walking of looking -- age who are actually woke him.
In the last 32 years.
That's the number the watch.
People just quit but no longer even looking for what they are not part of the -- -- us.
That is the reason.
White unemployment -- went down.
But that you've got to balance that that I mean that the politicians will no doubt spin that the -- -- unemployment -- But you must balance that against a much small -- force.
Large numbers of people giving all hope in -- that.
And -- 96000.
Jobs created in an economy with a 132 million paychecks 96000 new jobs.
Is just a pittance it Stewart helped me to understand this I.
And I'm gonna get to the president's speech -- just a moment but how is it the total number comes down.
When you're only adding 96000.
People dropped out of the work -- if you've got a small awoke -- And relatively the same number of jobs the proportion unemployed.
So the right eight point 1% is down but is purely technical is purely statistical it's not because we are producing.
Thousands and hundreds of thousands of new jobs it's the opposite.
It's hundreds of thousands of people -- just dropping Ottawa hopeful I got you know the president was briefed on these job numbers ahead of time before last night's speech right yes.
Yeah -- the -- that the president gets the numbers on these extremely important employment Joseph reports he gets those numbers late afternoon.
He got -- yesterday he then gave his speech closing out the Democrat national convention.
It could be.
That he knew what he did know about these numbers may be he factor them into what he had to say because.
He pleaded for more time last night to complete the recovery of the American economy.
He knew that would not in very good chip.
And he also went back and repeated the promises that he made four years ago -- very limited economic goals.
He could be that him knowing about these numbers influenced what he said last night.
Right Stuart Varney thanks very much --
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