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US Economy Adds 200K Jobs in December

Jan 6th, 2012 - National News

WASHINGTON (AP) — President Barack Obama says the U.S. economy is starting to rebound, though some people are still struggling.

A new report says the economy added 200,000 jobs in December. The unemployment rate fell to 8.5 percent, the lowest in nearly three years.

The jobs report sets a positive tone for Obama in this election year.

The president said: "We have made real progress; now is not the time to stop." He called on Congress to extend a payroll tax cut.

Obama spoke during a visit to the new Consumer Financial Protection Bureau. The president used a controversial recess appointment earlier this week to circumvent Republicans in the Senate to install the bureau's director.

Republican presidential candidate Mitt Romney says today's employment report contains some good news, but America still "deserves better." He says "35 consecutive months of unemployment above 8 percent is no cause for celebration."

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