U.S. President Barack Obama and Republican challenger Mitt Romney clashed head-on Wednesday over their economic policies in the first of three TV debates with the U.S. presidential election a month away.

Obama and Romney debated their plans to create jobs and energize the economy during the 90-minute showdown in Denver, Colorado.

The president stressed that the labor situation has been improving with four million jobs created in the private sector during his term.

Romney responded by noting that the nationwide average unemployment rate has been hovering over eight percent for nearly 50 months, and he promised to create 12 million jobs if he is elected president.

A survey conducted by Quinnipiac University in Connecticut shows that Obama leads Romney by four percentage points with a popularity rating of 49 percent.