AP News

News Summary: Just how weak is the job market?

BIG PICTURE: Republican presidential nominee Mitt Romney notes that unemployment is stuck at a high 8.3 percent, compared with 7.8 percent when President Barack Obama took office. Obama stresses the more than 4 million jobs the economy has added in 2½ years.

NOT SO GOOD: Unemployment would be even higher if it included people who have given up looking for work. When you add the 12.8 million unemployed to the number of people no longer looking and those working part time who'd prefer full-time work, you have 23.5 million people.

NOT SO BAD: Layoffs have plunged under Obama. Companies are steadily adding jobs, however modestly.

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