It is amazing that 100,000 new jobs are needed for a stable job market, but 80,000 jobs results in the unemployment rate remaining unchanged.
The number that’s missing relates to how many people left the workforce - those no longer looking for jobs. It’s in the millions since Obama was elected.
I agree. While U3 remained unchanged, interestingly U6 went up. IOW, the only reason it went unchanged is because some job seekers settled for part time jobs that don't begin to satisfy their needs, and some just stopped looking for jobs.
If Obama could discourage the entire group of unemployed so badly by November that they stopped looking altogether, then he could drop the unemployment rate to 0%. Even if ZERO jobs were created.