U.S. Adds 172,000 Jobs, But Unemployment Hits 8.3%

New figures show the official U.S. unemployment rose to 8.3 percent in July, up from 8.2 percent the month before. Despite the slide, non-farm jobs saw an increase of 172,000, ending a three-month run below 100,000. At the White House, President Obama welcomed the newly created jobs and said Republican policies would only further weaken continued growth.

President Obama: “That means that we now created 4.5 million new jobs over the last 29 months and 1.1 million new jobs so far this year. Those are our neighbors and family members finding work and the security that comes with work. But let’s acknowledge we still got too many folks out there looking for work. We’ve got more work to do on their behalf. The last thing that we should be doing is asking middle class families who are still struggling to recover from this recession to pay more in taxes.”

Republican challenger Mitt Romney seized on the unemployment news, saying President Obama’s policies have failed. Romney spoke during a campaign event in Las Vegas, Nevada.

Mitt Romney: “The official unemployment number 8.3 percent. That is the longest period of time, 42 months, the longest period of time we have had unemployment above 8 percent in American history, since this has been recorded. This is an extraordinary record of failure. The President’s policies have not worked because he thinks government makes America work. He is wrong.”