The final pre-election jobs report just came in. Over 171,000 jobs added in October, and unemployment remains below 8 percent, although it ticked up a point.
Yeah, there are plenty of arguments against these numbers; I know them as well as you do. The 7.9 percent unemployment number isn't the real figure, because it does not count discouraged workers. 171,000 new jobs must be measured against population growth, and includes a lot of people "downgraded" by circumstances to working crummy retail jobs.
Still, these are probably the best numbers Obama could reasonably have expected at this time. If the new jobs number had been below 100,000, we would all have to get used to saying "President Romney." Now...
Even if Obama wins, I don't expect the (more or less) good economic news to continue. Europe is a cock-up of epic proportions; the people will soon rebel against austerity. After that? God knows.