Obama: New jobs growth part of 'real progress'; Romney calls it 'stagnation'

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Posted: Nov 2, 2012 12:22 PM
Source: Associated Press

  Rating: 4.0 (1 vote)

Topics: ohio, obama, romney, employment, numbers, jobs, campaign, election

HILLIARD, Ohio - President Barack Obama is hailing another month of job growth but declaring "we've got more work to do."

Falling just four days before Tuesday's election, the government's latest employment snapshot shows U.S. employers added 171,000 jobs in October. It also shows hiring was stronger in August and September than first thought.

The unemployment rate rose to 7.9 percent in October, from 7.8 percent in September, mainly because more people began looking for work.

Obama said the job growth is part of a pattern of 'real progress' that includes a stronger auto industry, rising home values and less dependence on foreign oil.

But Mitt Romney says the one-tenth-of-a-point increase in the unemployment rate to 7.9 percent is, quote, "a sad reminder that the economy is at a virtual standstill."

The Republican presidential nominee says voters will decide Tuesday between what he calls stagnation and prosperity.

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