This morning's jobs report was awful. Unemployment went down from 8.3 percent to 8.1 percent, but nonfarm payrolls only increased by a dismal 96,000, with another 40,000 jobs lost in revisions of previous months' figures.
The headline figures from today's GDP report for the second quarter of 2012 aren't great: first quarter growth was revised up to 2.0 percent from 1.9, and second quarter growth was at 1.5 percent, neither of which looks particularly great. But there was a lot more to the report than just those numbers. So what else did it tell us?