The Democratic National Convention started as our national debt crossed the $16 trillion threshold, and the morning after it ended, we have yet another depressing jobs report.
Unemployment fell to 8.1% from 8.3%, but that number is not actually a measure of new jobs created (or "saved or created," as the Obama administration likes to say), but rather how many Americans have given up looking for work.
In fact,
as Reuters reported, "the labor force participation rate, or the percentage of Americans who either have a job or are looking for one, fell to 63.5 percent -- the lowest since September 1981."
Mitt Romney released a statement in response to the latest jobs report, calling it the "hangover" after the "party" of the Democratic National Convention: