Jobless Rate Dips Below 8%, Causes Campaign Frenzy

October 5, 2012 / MariaNews.com 

Jobless Rate Dips Below 8%, Causes Campaign Frenzy 

FoxNews.com - In the homestretch of a presidential race where every minute shift in the economy can translate into potential votes, both campaigns took aim Friday at the Labor Department’s estimate that the jobless rate fell below 8 percent for the first time in nearly four years.

President Obama’s team touted the numbers as a sign the economy is improving. Mitt Romney, along with several economists, expressed deep skepticism about the report.

“This morning, we found out that the unemployment rate has fallen to its lowest level since I took office,” Obama said at a Virginia rally Friday. “It’s a reminder that this country has come too far to turn back now. … We’ve made too much progress to return to the policies that led to the crisis in the first place.”

But skeptics pointed out that not only is 7.8 percent unemployment hardly a “real recovery,” but the report reflected an uptick in part-time jobs and the number of self-employed.
Read more: http://www.foxnews.com/politics/2012/10/05/jobless-rate-falls-to-78-percent-in-september/#ixzz28RYPpyys

Subscribe to MariaNews.com