Daily Archives: October 25, 2012

Keith Fray

US President Barack Obama (L) greets Republican presidential candidate Mitt Romney (R) following the third and final presidential debate at Lynn University in Boca Raton, Florida, October 22, 2012 (SAUL LOEB/AFP/Getty Images)

(SAUL LOEB/AFP/Getty Images)

Two sets of impending economic data are likely to hit the headlines in the last days of the US presidential campaign: the first estimate of GDP for the third quarter of the year, out on Friday October 26, and the employment situation report for October, published on Friday November 2, four days before the election.

After the release of labour market data for September, President Obama’s camp made much of strong growth in hiring, up 114,000 compared with August, and a fall in the unemployment rate from 8.1 per cent to 7.8 per cent, taking the rate back to where it was when the president took office in 2009. Mitt Romney’s campaign countered that, if not for people exiting the labour market, the rate would be in double figures.