8.3% or 8.254%?

According to the BLS (Bureau of Labor Statistics), the national unemployment rate ticked higher to 8.3% in July.

Mitt Romney pounced on the data, saying that the "increase in the unemployment rate is a hammer blow to struggling middle-class families".

It's a typical exchange considering we are so close to the US Presidential election - the unemployment rate increases and the Republicans pounce. Earlier in the year, as the national unemployment rate was dropping, it was the Democrats who were on the offensive.

Anyways, it was a pretty typical Friday after a jobs report release when Alan Krueger (Chairman of the Council of Economic Advisers) took to the official White House blog on WhiteHouse.gov to write:

"...the household survey showed that the unemployment rate ticked up to 8.3% in July (or, more precisely, the rate rose from 8.217% in June to 8.254% in July). Acting BLS Commissioner John Galvin noted in his statement that the unemployment rate was "essentially unchanged" from June to July..."

The gist of this statement? Republicans are making a mountain out of a molehill as the national unemployment rate barely changed in July.

The Republicans, as you can probably imagine, jumped all over Krueger and the Democrats, saying this in an official statement:

"23 million people struggling for work isn't a rounding error. And the White House's attempts to argue show just how out of touch they are."

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The national unemployment rate has been above 8% for the last 41 months and counting.

Source: WhiteHouse.gov - The Employment Situation in July

Source: USAToday.com - Obama Adviser: Jobless rate is really 8.254%

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