Unemployment was up in July but the real news was that Employment was slightly down in August. But the numbers aren't really big enough to matter yet. Unemployment went from 4.5 to 4.6 and the economy lost 4000 jobs after creating 3 million. When Unemployment goes to 6 and the economy is losing 200,000 jobs/month, that's real news.
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Watch - the recession will hit in April, 2009, just in time to blame the new Democratic president.
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Nobody will notice because the economy will be reported as secretly good. We will ferret out the real information here... such as, a Presidency can't have an effect on the economy that quickly.