Return to Transcripts main page   The Politics and Economics of
Friday's Job Report; Drought Causes Rising Food Prices  Aired
August 4, 2012 - 09:30   ET   CHRISTINE ROMANS, HOST: There are
only three more job reports until the election, how you feel
about your job is more critical than ever.  Good morning, I'm
Christine Romans. Mark Twain once said there are lies, damn lies
and statistics. Let me give you the statistics. The job market
created 163,000 new positions, net new positions of the month of
July. And the unemployment rate went up to 8.3 percent.  When
you dig into the numbers you can see it's the private sector
that's doing most of the hiring here and it is the government
sector that continues to lose jobs.  When you look within the
sectors you can see that leisure and hospitality, 27,000 jobs
created there. That's probably a sign that the consumer is still
holding on. Those are low wage jobs, though, if you are working
in them.  And in manufacturing 25,000 jobs created, net new
jobs. That's even wi