August jobs report weak

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Friday, September 07, 2012

The U.S. unemployment rate fell to 8.1% from 8.3% in July, but only because more people gave up looking for jobs.

Employers added 96,000 jobs, a weak figure which many expect to slow President Barack Obama's momentum.

The report provided fodder for both presidential candidates. Soon after the report was issued, Republican nominee Mitt Romney pointed to 43 straight months in which unemployment has now exceeded 8 percent.

"President Obama just hasn't lived up to his promises, and his policies haven't worked," Romney said in a statement.

At the same time, the report marks the 30th straight month of private-sector job gains, a point Obama and his allies are certain to spotlight.

Read more at The Huffington Post.

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