With 80,000 new jobs in Oct,US unemployment rate drops to 9%
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With 80,000 new jobs in Oct,US unemployment rate drops to 9%

Last Updated: Friday, November 04, 2011, 23:30
 
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With 80,000 new jobs in Oct,US unemployment rate drops to 9%

Washington: The unemployment rate in the United States dropped marginally to 9 percent from previous month's 9.1 percent, as the country added 80,000 new jobs in October.
     
The US Labor Department on Friday said the economy added 80,000 jobs in October. The number, however, is lower than September's revised total of 1,58,000 new jobs and the lowest in last four months.
     
Following the publication of the report, the Republican Presidential Candidates came down heavily on the policies of the Obama administration, while the Democratic leaders blamed the Republican-controlled House of Representatives for slow growth in jobs.
     
"Americans are still hurting and Congress needs to remain focused on creating jobs. Unfortunately, just yesterday Senate Republicans voted unanimously to block a bill that would have put hundreds of thousands of Americans back to work, rebuilding our crumbling roads and bridges and modernising our air traffic control systems," Senate Majority Leader Harry Reid said.
     
Democratic leader Nancy Pelosi said the jobs report reaffirms the urgency of this task as too many Americans remain out of work.
     
"That's why Democrats have called on the Supercommittee to promote America's entrepreneurial spirit as the center piece of its work as its members strive for a big, bold and balanced plan," she said.
     
Democratic Whip Steny H Hoyer said he is encouraged that the number of private sector jobs grew by 1,04,000 over the past month, representing the 20th straight month of increase and bringing unemployment rate down to 9 percent.
     
"There is still much left for us to do. Too many Americans remain out of work, and Congress ought not waste any more time and consider legislation that will help businesses create jobs right away," he said.
     
Republican Presidential Candidate Mitt Romney alleged that reckless spending of the Obama Administration and a trillion dollar deficits are hurting the economy and stifling job growth.
     
"Today's employment report is a reminder that America continues to face a jobs crisis of historic proportions. At this rate, it will take years to get back the jobs that have been lost under President Obama," he said.
     
"October marked the 33rd consecutive month that the unemployment rate has been above 8 per cent...," he said.      

"While the economy grew modestly last quarter, it is still 'frustratingly slow' according to Federal Reserve Chairman Ben Bernanke, and unemployment remains stubbornly high at 9 percent," Republican Presidential Candidate Michele Bachmann said.
     
Another Republican Presidential Candidate Jon Huntsman alleged that Obama has failed the US on the most important issue of the day - creating jobs.

PTI





First Published: Friday, November 04, 2011, 23:30


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