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On Friday, the Bureau of Labor Statistics reveraled that employers added just 32,000 jobs in July. It was "the fourth consecutive month in which the pace of job growth has slowed." Over the last three months, the economy has added an average of 106,000 jobs, "well below the 150,000 monthly pace analysts say is needed to keep up with population growth." In the context of weakened GDP growth and declining consumer spending, during the second quarter, the job numbers signal "the economic recovery [has] lost steam this summer." How did President Bush react to the news? Campaigning in New Hampshire, Bush insisted, "we have a strong economy and it is getting stronger." Overall, the economy has lost 1.2 million jobs since March 2001. It is the " greatest sustained job loss since the Great Depression ." [more]Had job growth simply met the average of previous recoveries "today's labor market would have 6.2 million more jobs." [more]