The Jobs Report is Bad for ...

... everybody. It is just a very disappointing set of numbers.

It is also bad for Obama's electoral prospects. The only good news is that it is early and the jobs numbers are a bit better in key swing states like Virginia. But the problem with that latter positive spin is that the jobs numbers affect the election in two distinct ways. The real victims, people who are out of work and looking for work will feel pain and be apt to punish the President no matter what the jobs numbers are. The other impact is the perception that these poor numbers create. So, even if you live in Virginia where the numbers are not quite as bad, you still see pretty much the same news story (ie, "the economy is very sluggish") and feel the same pessimism about the direction we're headed.

All of that said, this is one data point that will be replaced by others that are more important (for instance, next month's jobs numbers). I suspect Obama's numbers will drop just a tiny bit on today's news. Tomorrow, next week, etc., is another day.