President Barack Obama and First lady Michelle Obama joined by their children Sasha, left, and Malia. (AP Photo/David Goldman)

CHARLOTTE, N.C. (AP) — President Barack Obama emerged from the euphoria of his party’s convention Friday and ran smack into the harsh reality of a bleak new report on the nation’s unemployment outlook. Republican rival Mitt Romney pounced on the disappointing jobs figures as fresh evidence that it’s time to put someone new in the Oval Office.

Obama and Romney shadow each other Friday: Both campaign in New Hampshire and Iowa, improbable battleground states in the too-close-to-call race. Their campaigning was sure to be dominated by the new Labor Department report showing that U.S. employers added just 96,000 jobs last month, failing to meet expectations.

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