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Job numbers no boost for Obama's re-election

Business Times - 11 Nov 2011


Job numbers no boost for Obama's re-election

US October jobless data brought cheer, but may not be good enough to meet job targets

By LEON HADAR
WASHINGTON CORRESPONDENT

IS THE American economy showing some indications that it is experiencing a slow but steady recovery? The US jobs report issued by the Labor Department last week suggested that that may be the case. Eighty thousand American jobs were added in October - spread out in health care, hotels and restaurants and other temporary work - which helped to bring down the unemployment rate from 9.1 per cent to 9 per cent, the first decline since July and the lowest unemployment rate since April.

The net gain of 80,000 jobs in October was about 20,000 fewer than had been projected, but revised estimates from August and September showed the economy created 102,000 more jobs than initially thought (suggesting that we could see upward revisions to the October numbers). And heading into positive territory was …