Specifically, he notes how the low unemployment rate works against the Left's arguments for a socialist state and higher taxes, especially when you consider how poorly socialist Europe is doing now.
On the other hand, the low unemployment rate also works against the Right's argument that illegal immigrants are stealing American jobs.
But Prager's final observation is a classic:
"And those on the left need to cheer the unemployment data. But they can't do that until they love the low unemployment figures even more than they hate George Bush and his tax cuts."