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New job numbers could be a political 'game changer'

Business Times - 07 Feb 2012


New job numbers could be a political 'game changer'

By LEON HADAR
WASHINGTON CORRESPONDENT

WHILE addressing new economic numbers showing 243,000 new American jobs in January - including 50,000 manufacturing jobs - US President Barack Obama seemed to be going out of his way to contain the expected enthusiasm manifested on the same day in the rising Dow.

The new numbers showed that the 'the economy is growing stronger' but there remained 'still far too many Americans that need a job', Mr Obama told an audience in Virginia on Friday.

But if Mr Obama sounded a somewhat restrained note in public there is no doubt that he and his economic and political aides were in a good mood in private last week. Currently at 8.3 per cent, the unemployment rate is in its lowest level since Mr Obama has entered office. That unemployment has been falling consistently for several months may not a sign that the economic recovery is finally taking off. But if th…