Obama: Job figures sobering

[OnePimpTiger]

Obama: Job figures sobering

President Obama on Thursday called the nation's latest unemployment figures sobering, but said the economic recession is slowing.

In a Rose Garden appearance with chief executives of clean-energy companies, Obama noted the average number of job losses in the current fiscal quarter has been 400,000 a month, compared with a monthly average of 700,000 in the previous quarter.

"It took years for us to get into this mess, and it'll take more than a few months to get out," Obama said.

A government report Thursday showed a net loss of 467,000 jobs in June, compared with a revised loss of 322,000 jobs in May. It was the first time in four months that the number of jobs lost rose from the prior month.

The June job losses also were far worse than the forecast of a loss of 365,000 jobs by economists surveyed by Briefing.com.

[tutall]

I thought this was why we had to pass that stimulus package right away.... It was going to fix things instantly