“As much as I love this job and will always love this city and its residents, I’ve decided not to seek re-election,’’ he told reporters during a press conference at City Hall, flanked by his wife, Amy Rule. “This has been the job of a lifetime, but it is not a job for a lifetime.’’

Emanuel, President Barack Obama’s former chief of staff and a former Chicago congressman, has been in office for more than seven years and had been raising money ahead of next year’s election. Among his challengers is his former police superintendent, Garry McCarthy.

The mayor’s decision comes as Chicago continues to confront fiscal issues as well as those associated with poverty and violence.