Obama: Job Losses a ‘Sobering Reminder’ of the Work Ahead

By Lindsey Ellerson

Oct 2, 2009 5:20pm

ABC News' Jordyn Phelps reports:

President Obama reacted to the spike in job losses reported today by the Department of Labor upon his return from a failed Olympic bid in Copenhagen.

“Today’s job report is certainly a sobering reminder that progress comes in fits and starts and we’re going to need to grind out this recovery,” the President said to reporters in the Rose Garden.

The Department of Labor reported that the U.S. economy lost 263,000 additional jobs in September, raising the unemployment rate to 9.8 percent—the highest it’s been since entering the recession.

Though the President expressed concern for those Americans who have been affected by the recent job losses, he said that the high unemployment rate is to be expected in a time of economic recovery.

“Employment is often the last thing to come back after a recession, that’s what history shows us, but our task is to do everything we can possibly do to accelerate that process,” the President remarked.

Though today’s economic report was a setback in the overall recovery of the economy, Obama said that progress that has been made.

“Since the period last winter when we were losing an average of 700,000 jobs per month, we've certainly made some progress on this front,” Obama said.

The president pointed to the Recovery Act as an important component of that progress and suggested that health care reform would further assist in creating jobs. Obama also signaled that he is looking into additional measures to reboot the ailing economy.

“I'm working closely with my economic advisers to explore any and all additional options and measures that we might take to promote job creation,” Obama said.
 
President Obama concluded his remarks by vowing to continue working “each and every day” to bring about economic recovery. 

–Jordyn Phelps

 

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