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article imageBarack Boost: July job increases in U.S. 163,000, boosting Obama

By Marcus Hondro     Aug 3, 2012 in Politics
The United States economy did something in July likely to please U.S. President Barack Obama as much as anyone - it gained more jobs than expected. Despite a continuing sluggish world economy the U.S. added 163,000 jobs.
The gains come in the midst of the American election, with Obama fighting it out on the campaign trail with GOP nominee Mitt Romney. Obama may have been making gains but on the back of Romney's disastrous overseas trip, his refusal to release more of his taxes and an examination of his tax plan that reveals it would see the wealthy paying less taxes and the middle-class more.
While the U.S. government dropped 9,000 jobs in July, the boost comes from private companies, who added 172,000 jobs. The numbers released show the economy in America is still fighting to get back on its feet and the unemployment rate rose slightly to 8.3 from 8.2. He is being criticized by Republicans for continuing to fail to get the unemployment numbers below 8 percent.
The country's labor department said that to date in 2012 the growth in the U.S. jobs sector has been on average 151,000 jobs each month.
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