Paul Ryan on the Dismal Jobs Report

August adds 96k jobs, missing expectations, as more than 300k leave work force


Rep. Paul Ryan criticized sharply President Obama for a "failure of leadership" in the wake of a dismal jobs report released Friday morning.

"For everyone one net job created, nearly four people left the workforce," Ryan said. "This is not what a recovery looks like."

The economy added 96,000 jobs in August, missing the expected 130,000 by a long shot. Although the unemployment rate fell to 8.1 percent, more than 380,000 people left the work force in August — resulting in the lowest labor force participation rate since 1981. June and July's job creation numbers were also revised downward by 41,000.

Here is Ryan's full appearance on CNBC: