WASHINGTON: Dire new unemployment data and a rise in the jobless rate dented Barack Obama's reelection hopes Friday and boosted his foe Mitt Romney who brands the president a failure who cannot create jobs.
Labor Department figures bolstered fears of an economic slowdown -- only 69,000 jobs were added in May and the unemployment rate rose to 8.2 percent, numbers that detonated in the middle of a cliffhanger US election race.
"It is now clear to everyone that President Obama's policies have failed to achieve their goals and that the Obama economy is crushing America's middle class," Republican White House candidate Romney said.
"The President's re-election slogan may be 'forward,' but it seems like we've been moving backward. We can do so much better in America.
That's why I'm running for president." The White House, however, insisted that Obama was on the right path after shepherding the United States out of the worst economic crisis since the Great Depression and urged Congress to pass job creating measures languishing on Capitol Hill.
"There is much more work that remains to be done to repair the damage caused by the financial crisis and deep recession that began at the end of 2007," said Alan Krueger, chairman of Obama's Council of Economic Advisers, in a written statement.
"Just like last year at this time, our economy is facing serious headwinds, including the crisis in Europe and a spike in gas prices that hit American families' finances over the past months.
"It is critical that we continue the President's economic policies that are helping us dig our way out of the deep hole that was caused by the severe recession."
Krueger argued that Obama had proposed policies to create employment and strengthen the economy, including those that would put teachers back to work and more police on the streets and add jobs through infrastructure projects.
indiatimes.com
Labor Department figures bolstered fears of an economic slowdown -- only 69,000 jobs were added in May and the unemployment rate rose to 8.2 percent, numbers that detonated in the middle of a cliffhanger US election race.
"It is now clear to everyone that President Obama's policies have failed to achieve their goals and that the Obama economy is crushing America's middle class," Republican White House candidate Romney said.
"The President's re-election slogan may be 'forward,' but it seems like we've been moving backward. We can do so much better in America.
That's why I'm running for president." The White House, however, insisted that Obama was on the right path after shepherding the United States out of the worst economic crisis since the Great Depression and urged Congress to pass job creating measures languishing on Capitol Hill.
"There is much more work that remains to be done to repair the damage caused by the financial crisis and deep recession that began at the end of 2007," said Alan Krueger, chairman of Obama's Council of Economic Advisers, in a written statement.
"Just like last year at this time, our economy is facing serious headwinds, including the crisis in Europe and a spike in gas prices that hit American families' finances over the past months.
"It is critical that we continue the President's economic policies that are helping us dig our way out of the deep hole that was caused by the severe recession."
Krueger argued that Obama had proposed policies to create employment and strengthen the economy, including those that would put teachers back to work and more police on the streets and add jobs through infrastructure projects.
indiatimes.com
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