Steep Unemployment Increase: More Trouble For McCain?
Posted Oct 03, 2008 at 10:50 AM by Maurice Berger
The US Department of Labor reports that employers cut 159,000 jobs in September, a two-fold increase from August or July. This is the biggest decline since 2003. Back then, jobs were still being lost in the wake of the 2001 recession. Today's labor report may add fuel to the idea that the Wall Street Crisis is only the tip of a bigger economic iceberg (since September job loses began well before the meltdown of two weeks ago). Will the continuing bad economic news further upset already anxious voters, many of whom blame the problem on the outgoing Republican administration (and the party in general)? If so, will these numbers make it difficult for McCain to change the subject?
