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Obama: Hiring last to come as economy rebounds
2009-11-02
WASHINGTON - As the prospect of double-digit unemployment looms, President Barack Obama on Monday sought to set expectations for the nation, saying job losses will likely roll on "for weeks and months to come" because hiring always lags behind in an economic rebound. "We just are not where we need to be yet," Obama said as he met with a panel of economic advisers. "We've got a long way to go." Unemployment hit a 26-year high of 9.8 percent in September. The next monthly reports come out Friday and could show it topping 10 percent. Still, the economy is growing again. Reports out Monday show improvement in manufacturing, construction and contracts to buy homes. Obama said that building a sustainable economy and getting people back to work remain his "administration's overriding focus." Obama helped push through a $787 billion economic stimulus package earlier this year, and he says the administration, Congress and the private sector must take more bold steps to help. Obama spoke as he met with his Economic Recovery Advisory Board. The session was open to reporters and streamed live on the White House Web site. Obama added that the U.S. must break out of a "debilitating gridlock on trade policy," by ending the false choice between a wide-open, freewheeling import policy or fearful, protectionist approach to trade. He called for a more balanced policy of letting the world know America will compete and trade fairly. ___ White House: http://www.whitehouse.gov
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 Electronic Arts to cut 1,500 jobs (2009-11-09) | | Jobless rate tops 10 pct. for first time since '83 (2009-11-06) |  Obama: Hiring last to come as economy rebounds (2009-11-02) | | US Airways, American Airlines cut 1,700 jobs (2009-10-28) | | US new jobless claims up again (2009-10-22) | | Obama looking at all options for creating jobs (2009-10-18) | | New jobless claims fall to 521K, lowest since Jan. (2009-10-08) | | Jobless claims hit 9-month low, retail sales rise (2009-10-08) | | Even as layoffs persist, some good jobs go begging (2009-10-04) | | U.S. jobless rate hits 26-year high of 9.8 percent (2009-10-03) | | US jobs picture may worsen in coming months: Obama (2009-09-20) | | New jobless claims drop unexpectedly to 545K (2009-09-17) | | For the jobless, Labor Day is hardly a holiday (2009-09-05) | | 10 Least Competitive Job Markets (2009-08-18) | | Lockheed Martin aerospace division to cut 800 jobs (2009-08-17) | | Jobless NYC woman sues college for $70K in tuition (2009-08-03) | | More Job Seekers Are Relocating For Work (2009-07-27) | | The End of Unemployment Benefits: 5 Things to Know (2009-07-27) | | New jobless claims rise to 554K, total rolls fall (2009-07-23) | | Identity Thieves Target Job Seekers (2009-07-15) | | Crisis spurs people to work for free - good or bad? (2009-07-13) | | Jobless claims drop, data skewed by auto jobs (2009-07-09) | | 565K new jobless claims, lowest level since Jan. (2009-07-09) | | As economy drops jobs, paychecks drop some weight (2009-07-02) | | 467K jobs cut in June; jobless rate at 9.5 percent (2009-07-02) |
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