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October 8, 2012

Unemployment Rate Falls to 7.8%, Lowest Point in Obama Presidency 
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New job figures released Friday show the nation's unemployment rate has
fallen to 7.8 percent, the lowest point since President Obama took
office. Employers added 114,000 workers in September, and revised
figures showed employment gains in previous months were higher than
previously thought. The number marked a boost to President Obama's
re-election bid in the aftermath of his widely criticized debate
performance last week. Addressing supporters at the University of
Virgnia, Obama said the country "has come too far to turn back."

President Obama: "More people are getting jobs. Now, every month reminds
us that we've still got too many of our friends and neighbors who are
looking for work. And there are too many middle-class families that are
still struggling to pay the bills — they were struggling long
before the crisis hit. But today's news certainly is not an excuse to
try to talk down the economy to score a few political points. It's a
reminder that this country has come too far to turn back now."

Also campaigning in Virginia, Republican challenger Mitt Romney
downplayed the new figures.

Mitt Romney: "This can't go on. I will tell you this, when I am
president of the United States, when I am president of the United
States, that unemployment rate is going to come down, not because people
are giving up and dropping out of the work force, but because we are
creating more jobs, I will create jobs and get America working again."