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2/3/12

US Economy: Obamanomics on the right track: Economy adds 243,000 jobs in Jan.; jobless rate 8.3% - by Christopher S. Rugaber,

(AP) Employers went on a hiring spree in January and drove down the unemployment rate for a fifth straight month to 8.3%, its lowest point in nearly three years. Employers have added an average of 201,000 jobs a month in the past three months.

That's 50,000 more jobs per month than the economy averaged in each month of 2011. The Labor Department's January jobs report was filled with other encouraging data and revisions. Hiring was widespread across many high-paying industries. Pay increased for millions of workers. And the economy added 200,000 more jobs last year than initially estimated by government data collectors.

Lower unemployment is a positive a sign for President Obama's reelection hope.

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