Obama Visits UPS Facility; Cites Employment Gains

President Barack Obama said the lower unemployment rate figure released Friday shows the economy is showing signs of strength, the Associated Press reported.

The president, speaking at a UPS facility in Landover, Md., said that more work needed to be done to boost employment, AP reported.

The unemployment rate has fallen a full percentage point over the past four months, the sharpest drop since 1983, AP said.

UPS and FedEx Corp. are among five companies committing to a partnership with the government to reduce fuel consumption in their vehicle fleets to help cut U.S. oil imports, Bloomberg reported.

The companies taking part in the government program operate five of the 10 largest corporate vehicle fleets in the United States, Bloomberg said.

They will deploy 20,000 advanced technology vehicles targeted at saving more than 7 million gallons of petroleum annually, Bloomberg reported, citing the White House.