June 6, 2008
What Really Matters Is Jobs
Harry Smith: New Unemployment Numbers Were Released, 5.5% Of Americans Don’t Have Jobs
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Play CBS Video Video MoneyWatch Alexis Christoforous reports unemployment is expected to have risen in April; analysts say airlines may cut capacity by 20 percent next year; and GM looks for corn alternatives to produce ethanol.
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Interactive On The Job Explore America's labor economy, track recent major layoffs and meet key economic players.
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In The Spotlight Harry Smith Reporting The Early Show co-anchor Harry Smith offers commentary for CBSNews.com.
John McCain says he has more experience. Barack Obama says he’s the agent of change. Who will they pick as running mates? What does Hillary Clinton want? Will hardline republicans back Maverick McCain? Will Hillary’s supporters stay home or defect to Johnny Mac?
All good questions until today… when the new unemployment numbers were released we found that 5.5 percent of Americans don’t have jobs. That does not include the chronically unemployed so the number is actually higher, but, I digress.
The reason that number is significant is because incumbent parties have a darn hard job keeping their candidates in office when the unemployment rate is rising.
Bill Clinton’s mantra was, “It’s the economy, stupid” and Americans really do vote their pocket books.
Harry Smith
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