Business

US economy boosting employment

Keith Barnett thinks President Obama would have a lovely time in Stanthorpe.
Keith Barnett thinks President Obama would have a lovely time in Stanthorpe.

THE US economy created a solid 163,000 jobs in July, the Labour Department said on Friday, unveiling data that will help US president Barack Obama dull attacks from his Republican election rival.

The economy created many more jobs than the 100,000 expected from economists, and although the unemployment rate ticked up to 8.3 per cent, the report is likely to be seen as evidence that the economy is still on track.

The service, manufacturing, and food and drink sectors were among those showing gains, as the economy created more jobs than at any time since February.

With fewer than 100 days to go until the US presidential election, the figures will also help set the tone for the race for the White House.

Republican Mitt Romney will zero in on the rising unemployment rate, which is the highest since February and is, for the 42nd straight month, above 8 per cent.

Read more at ABC news online

Topics:  barack obama employment jobs us election 2012



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