Today Texas governor Rick Perry addresses the national convention of Veterans of Foreign Wars. Tomorrow his rival Mitt Romney does the same. If Romney wanted to draw a contrast, it would be an easy venue to do it in and give him the last word. . . . The bad news for Romney is, it’s in San Antonio, Perry’s home turf, and to the extent there are policy differences between Romney and Perry, they’re not particularly pronounced on issues of national security, defense, veterans’ concerns, and this realm of policy.
The other expected big news of the week comes on Friday, September 2, when we get the next Bureau of Labor Statistics Report on unemployment, this time updated with August’s numbers.
The payrolls report on Friday is expected to show the U.S. economy created 80,000 jobs this month, according to economists polled by Reuters. In contrast, 117,000 jobs were added to U.S. non-farm payrolls in July.
The U.S. unemployment rate is seen steady at 9.1 percent.
The unemployment rate increased three-tenths of a percent in August 2008, two-tenths of a percent in August 2009, and one-tenth of a percent in August 2010. In the preceding six years, it either remained flat or went down one-tenth of a percentage point. For obvious reasons (people going on vacations, etc.), August does not seem to be a big hiring month.
Romney and Barack Obama both give major speeches on the economy on September 6, the Tuesday after Labor Day. It’s unlikely that Friday’s report will provide the president any significant good news, putting extra spotlight on the two speeches.