2012 Presidential Election: Job Numbers Impact on Obama, Romney

David Kerley , John Avlon review jobs report's impact on the two candidates.
3:00 | 10/06/12

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Transcript for 2012 Presidential Election: Job Numbers Impact on Obama, Romney
We're going to turn, now, to the economy and the race for the white house. The nation's unemployment rate dropped to 7.8% in september, bringing it below 8% for the first time in more than 3 1/2 years. As for jobs, 114,000 were created last month. While the numbers from july and august were revised higher by 86,000. So, with just 31 days to go before the election, what impact will this have on the race? It's "your voice, your vote." And our david kerley is in orlando, florida, with the latest. Good morning, david. Reporter: Good morning, bianna. Mitt romney is here in florida. This battleground state. And he comes to florida without one of his most potent weapons because that jobs reporter raced the claim that the unemployment rate has been above 8% for nearly four years. That change completely altered the political landscape and narrative of the last week. In virginia, there was no public high-fiving. But the jobs numbers were cheered by supporters of the president. The unemployment rate has fallen to its lowest level since I took office. Reporter: Also in virginia, mitt romney's post-debate momentum ran smack right into those breakthrough numbers. More and more people have just stopped looking for work. Reporter: Romney tried to spin the unemployment rate. The truth is, if the same share of people were participating in the workforce today, on the day the president got elected, the unemployment rate would be around 11%. Reporter: The president, who spoke before romney, saw that charge coming. Today's news, certainly is not an excuse to try to talk down the economy, to score a few political points. It's a reminder that this country has come too far to turn back now. Reporter: But there was more. When the former ceo of general electric took to twitter and the air waves, suggesting the obama campaign cooked the numbers. I don't know what the right number is. But I'll tell you, these numbers don't smell right when you think about where the economy is right now. Reporter: Many experts laughed off the charge. But the labor secretary, whose department compiles the monthly report, was not laughing. I'm insulted when I hear that. It's really ludicrous to hear that kind of statement. Reporter: Now, we know that here in florida, along with mitt romney, is rob portman, who plays president obama in debate preparation. today before an event tonight. The president has nothing on his schedule. We don't know what he's doing. No guidance on whether he's preparing for the next debate. As for the last debate, dan and bianna, some democrats are saying what debate, after the jobs report. We're joined by john avlon, senior analyst with "the daily beast." These allegations that the numbers are somehow cooked are shocking and dangerous, especially from somebody as prominent as jack welch. What does it say about partisanship in the country? It says that it starts to rot people's brains. The theory is just -- we need a good name for this. I nominate job nutters. But this really is ridiculous. This is -- first things first, this is good news for the country. And, yes, it benefits the president because it adds to argument. It takes away the argument that unemployment rate's been over 8%. It's a positive sign for the country. And frankly, it gives the president a boost in the wake of a terrible debate performance. But bottom line, it's a sign that the trend is moving away from the debt sweep we've dealt with. Let me pick up on that. Some democrats are saying what debate? How much of a boost does it really give the president, given the lackluster nature of his performance the other night? It doesn't give the president a do-over. He had a lousily first debate. That hurts. It's not determinative. The economy's issue number one. This is a boost. It helps change the topic. But it doesn't erase that first debate. The president has to have a great performance in the second. And so does joe biden against paul ryan in kentucky. It's all about the undecided voters. We have one more jobs report after this one. Let's assume that the economy remains tepid and growing slowly. How much does a small drop in the unemployment rate help undecided voters? It creates a psychological barrier, breaking below 8%. And the issue is less the actual number than the trend. And the fact is we're moving in the right direction. Not as fast as some folks would like. But it gives reason for hope. Again, this is a statistical tallsman that tells people we're moving in the right direction. Talk about the vice presidential debate coming up this thursday. Is that likely to have any impact on the interior of this race? It could have one. If paul ryan wins this debate, gives the romney camp a strong argument. Mitt romney trying to move towards the center. There's going to be a lot of fireworks. You have a policy wonk in paul ryan. You have joe biden who is everyone's uncle, for better or worse. Who knows what he'll say? Every little bit matters. 30 days away. John, our thanks to you. Abc news will have live coverage of the vice presidential debate on thursday at 9:00 p.M. With diane sawyer and george stephanopoulos.

This transcript has been automatically generated and may not be 100% accurate.

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