Report shows trend line Obama was looking for
WASHINGTON – September’s lower unemployment rate breaks the 8 percent psychological and political barrier that has stubbornly dogged Barack Obama through his presidency, halting the kind of stagnant high joblessness that has weighed down past presidents seeking re-election in economically troubled times.
For Obama, the trend line now looks more like Ronald Reagan’s in his successful re-election in 1984 than Jimmy Carter’s in his losing effort in 1980.
The 0.3 percentage point drop to 7.8 percent unemployment last month comes at a welcome time for Obama, one month before Election Day and less than 36 hours after he delivered a lackluster debate performance that reinvigorated the campaign of Republican challenger Mitt Romney.
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