Unemployment Rises to 8.3%

The nonfarm economy added an anemic 163,000 payroll jobs in July–up slightly from an even worse 64,000 in June–but the unemployment rate ticked up to 8.3%. Unemployment (forget about underemployment and the “real” unemployment rate, which is far worse) is now .7% higher than it was when Barack Obama took office. Nearly four years into Barack Obama’s term, unemployment is rising instead of falling. So the latest numbers are one more nail in the coffin of the Obama administration.