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Unemployment rate fallen to lowest: Obama

Source : IBNS
Last Updated: Sat, Oct 06, 2012 09:20 hrs

U.S. President Barack Obama said unemployment rate in the country has dropped to the lowest mark since he resumed office.

Obama made the comments at a time when the U.S. Bureau of Labor Statistics said the unemployment rate in the country decreased to 7.8 percent in September.

"Today, I believe that as a nation, we´re moving forward again," Obama said during an election campaign event in Ohio on Friday.

"When I was sworn into office, we were losing 800,000 jobs a month. Now our businesses have added 5.2 million jobs over the past two and a half years," he said.



"This morning, we found out that the unemployment rate has fallen to its lowest level since I took office. So more Americans entered the workforce. More people are getting jobs," Obama said. "But today's news should give us some encouragement."

The U.S. Bureau of Labor Statistics said total nonfarm payroll employment rose by 114,000.

"The unemployment rate declined by 0.3 percentage point to 7.8 percent in September. For the first 8 months of the year, the rate held within a narrow range of 8.1 and 8.3 percent. The number of unemployed persons, at 12.1 million, decreased by 456,000 in September," it said.

Earlier this week, America witnessed some heated debates on Wednesday as Obama and his Republican challenger Mitt Romney faced each other and exchanged barbs on crucial domestic policies during the first presidential debate in Denver.

The two leaders were seen attacking each other as they debated on important policies ranging from economy, taxation and jobs.

Romney attempted to corner the US President in the 90-minute long debate, as he said: "I am concerned about America."

"I am concerned about the direction America has been taking over the last four years," Romney said.

Obama said: "My government created 23 million jobs in four years."

He said he will continue to fight for the people of the country.

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