The Republicans will say it is because of the GOP presidential race contenders, not Obama’s economic policies:

U.S. job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 percent, signs of a pick-up in economic momentum that could keep the Federal Reserve on track to hike interest rates this year.

Nonfarm payrolls increased 223,000 as gains in services sector jobs offset weakness in mining, the Labor Department said on Friday. The one-tenth of a percentage point decline in the unemployment rate to its lowest level since May 2008 came even as more people piled into the labor market.

Unemployment among African-Americans dropped from 10.1% to 8.7%, the first time it has been under 10% since mid-2008.