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Friday, February 03, 2012

Job growth surges, jobless rate drops to 8.3 percent

WASHINGTON | Fri Feb 3, 2012 9:25am EST
(Reuters) - The economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3 percent, providing some measure of comfort for President Barack Obama who faces re-election in November.
Nonfarm payrolls jumped 243,000, the Labor Department said on Friday, as factory jobs grew by the most in a year. The gain in overall employment was the largest since April and outpaced economists' expectations for a rise of only 150,000.

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