Drop in Jobless Figure Gives Jolt to Race for President
The jobless rate abruptly dropped in September to its lowest level since the month President Obama took office, indicating a steadier recovery than previously thought and delivering another jolt to the presidential campaign.
The improvement lent ballast to Mr. Obama’s case that the economy is on the mend and threatened the central argument of Mitt Romney’s candidacy, that Mr. Obama’s failed stewardship is reason enough to replace him.
Employers added a modest 114,000 jobs last month, the Labor Department reported on Friday, but estimates for what had been disappointing gains in July and August were revised upward to more respectable levels.
Unemployment fell to 7.8 percent from 8.1 percent, crossing what had become a symbolic threshold in the campaign. Mr. Romney was deprived of a favorite line of attack, mocking the president for “43 straight months with unemployment above 8 percent.”
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http://www.nytimes.com/2012/10/06/business/economy/us-added-114000-jobs-in-september-rate-drops-to-7-8.html?nl=todaysheadlines&emc=edit_th_20121006&_r=0