Friday, November 2, 2012

Jobless report stirs US presidential campaign once more

US presidential contender Mitt Romney came on stage today after the Labor Department announced new jobless figures. The Republican said the US economy was at a "virtual standstill" while the White House stressed the economy was continuing to heal.

The Republican candidate said the uptick in the US employment rate to 7.9 percent shows the economy continues to struggle. "Today's increase in the unemployment rate is a sad reminder that the economy is at a virtual standstill," he said.

"The jobless rate is higher than it was when President Obama took office, and there are still 23 million Americans struggling for work," Romney added in a statement.

The White House said on the other hand October's jobless data showed the US economy was continuing to heal.

"Today's employment report provides further evidence that the US economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression," Alan Krueger, chairman of the White House Council of Economic Advisers, said in a statement.