Obama Takes Some Credit For Pace Of Job Growth

MarketWatch Pulse

President Barack Obama on Friday took some credit for the strong pace of job growth seen so far this year. "It's got a little bit to do with some decisions we made early in my administration," including rescuing the auto industry, Obama said in remarks at a steel manufacturer in Princeton, Indiana. The unemployment rate fell in September to 5.9%, the lowest level in six years. "There is a lot of good stuff happening in the economy right now," he said. Obama noted that wages haven't been rising but said if the labor market gets "a little bit tighter," then workers will soon have more money in their pockets. Obama said that companies can afford to provide workers with higher wages. "The reason they're not giving their workers raises is because, frankly, they don't have to, because the labor market's still somewhat soft and people are afraid that, you know, if I leave this job I may not find something," he said.

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