Saturday, November 3, 2012

China: Hiring surges in US


New job date gives Obama hopeful sign

BEIJING, Nov. 3 (Xinhuanet) -- U.S. employers stepped up hiring in October, creating more than 170-thousands jobs according to the latest data released by the Labor Department. And there was only a small increase in the jobless rate due to more workers restarting their job hunts.
The data is seen as a hopeful sign for a lackluster US economy that has been a drag on President Barack Obama’s re-election bid.

With the economy at the center of the campaign, the latest jobs figures were crucial for many who were still undecided.

On Friday, the US Labor Department announced that the US added 171,000 jobs in October.
The jobless rate at one time had peaked at 10 percent.
Now it has edged up a tenth of a point to 7.9 percent, though that was due to workers surging back into the labor force, as only people who are looking for a job count as unemployed.
The employment data issued on Friday is considered as the last major report card on the economy before Tuesday’s presidential election.

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