Jobs report gives Obama thumbs-up

The final key economic report four days before the US presidential election held something for both candidates Friday, showing the monthly unemployment rate ticked up slightly but created far more jobs than expected, as voters decide between a second term for President Barack Obama or a change to Republican challenger Mitt Romney.

With polls showing the candidates locked in one of the closest presidential contests in recent US history, Obama argued that the economy is well, if slowly, on the road to recovery from the Great Recession. "We've made real progress,'' Obama told a crowd in Ohio shortly after the report. "But we've got more work to do.'' Romney called the jobs report a "sad reminder that the economy is at a virtual standstill.''

US employers added 171,000 jobs in October, and hiring was stronger over the previous two months than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent in September because the work force grew. Unemployment remains below 8 percent, the lowest rate since Obama took office in January 2009.

"While more work remains to be done, today's employment report provides further evidence that the US economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression," said the chairman of the president's Council of Economic Advisers, Alan Krueger.

While the report could attract undecided voters toward Obama in the closing days of the long and brutal campaign for the White House, the candidates were expected to go into Election Day in a virtual tie.

Friday's report came after other signs that the economy is on the mend. Most important, consumer confidence is up to its highest level since February of 2008, according to the Conference Board.

Obama had three stops in Ohio on Friday. Romney was set to hold two rallies there.

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