With the polls suggesting that Obama has gained a slight edge over his opponent and Republican Mitt Romney, the US economy only days ahead of the presidential election has added over 171,000 jobs in October leading to a better employment rate. This can be considered a direct move to increase the gap between the already lagging Mitt in the election race.
They earlier proposed that 125,000 jobs would be created according to the Bureau of Labor but the extra numbers is a welcome news. The number of Americans hired in August and September was revised up by 84,000, the Telegraph reports.

Paul Ashworth,an economist at Capital Economics, opined that the rate of job growth was commendable but not still great. He mentioned that if the rate is sustained it would be sufficient to lower the unemployment to an acceptable low over time, gradually.

Of the jobs created, 36,000 jobs were created in retail, the construction industry created nearly 17,000 and manufacturers hired 13,000 during the month.

The other side of the coin is that the hourly earnings have moved down slightly to $23.58 per hours which hints at the absence of a development in the quality of jobs created.

Whatever be the figures, Obama now has a strong point in the issue as he can strongly state that he is creating jobs in the times o recession and helping the world's largest economy climb out of the recession of 2009.
Analysts however says that it is highly unlikely to deflect the Federal Reserves from its policy of quantitative easing and pledge to keep rates low until 2015.

(AW- Anil)