For the improvement in the labor market to continue, America needs to minimize the risk of derailment by three clear and present dangers: the reluctance of Congress to deal with the fiscal cliff, Europe's inability to get ahead of its crisis, and a possible geopolitical shock emanating from Iran.
Don't read too much into one month as one month does not a new trend make. July's reversal of the recent downshift in payrolls is very welcomed, but let's sees if it hangs around.
Like other leading economic indicators that have shown consistent improvement this year, the jobs market is nearing a bottom. Do you think Republicans are giving the president any credit for this marked improvement?