Obama on Jobs Numbers: Good Trends Not Good Enough

By MichaelJames

Dec 5, 2009 6:01am

ABC News' Sunlen Miller reports:

President Obama said that while Friday's job numbers reports showed good trends in the economy, that is not enough while some Americans still are losing their jobs.

“We, as a country, are in a very different place than we were when 2009 began,” President Obama said today in his weekly address. “Because of the Recovery Act and a number of other steps we’ve taken, we’re no longer facing the potential collapse of our financial system or a second Great Depression. We’re no longer losing jobs at a rate of 700,000 a month. And our economy’s growing for the first time in a year.”

On Friday, the Bureau of Labor Statistics released figures for November showing a net job loss of just 11,000 – significantly below the 125,000 job loss economists were expecting and the smallest loss of jobs in any month since the recession started. The nation’s unemployment rate dropped slightly from 10.2 percent last month to 10.0 percent for November.

The president said while that is “a continuing positive trend of diminishing job loss,” a good trend is not good enough.

“Trends don’t buy the groceries," he said. "Trends don’t pay the rent or a college tuition. Trends don’t fulfill the need within each of us to be productive, to provide for our families, to make the most of our lives, to reach for our dreams.”

President Obama will give a major address on Tuesday at the Brookings Institution in which he will talk about what he wants to see from Capitol Hill to help create jobs.

“In the coming days, I’ll be unveiling additional ideas aimed at accelerating job growth and hiring as we emerge from this economic storm,” he said in his weekly address. “And so that we don’t face another crisis like this again, I’m determined to meet our responsibility to do what we know will strengthen our economy in the long-run.”

-Sunlen Miller

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