(CNN) – President Barack Obama reacted Friday to news the economy lost 663,000 jobs last month, saying at a press conference in Germany the report is the latest evidence the economic crisis continues to take its toll.
"Over the last several days, what we have been grappling with is an economic crisis that is unlike anything we have seen since the '30s, and - just a stark reminder for those of us in the United States - our jobs report came out today, and it showed that we had lost 663,000 jobs just this month, which has pushed our unemployment rate to 8.5 percent - the highest in 25 years," he told reporters at a briefing with German Chancellor Angela Merkel.
"We have lost 5.1 million jobs since this financial crisis and recession began, so obviously, this is hitting the United States hard," he added.
The jobs report released Friday said employers trimmed 663,000 jobs from their payrolls last month, roughly in line with forecasts of a loss of 658,000 jobs, according to economists surveyed by Briefing.com.
CNN Radio: Could the jobs report affect the president politically?
For the first three months of the year, two million jobs have been lost. More than five million jobs have been lost since the start of 2008.
Whatever, jobs come and go
This is just terrible. I have faith that with the help of our new president and American Citizens rise to do better we will come out on top
Hopefully next quarter will be better. 5 million is alot.
Unfortunately, it always takes longer for employers to beging to rehire than it does to lay off people. Arizona state legislatures have reduced funding for our education system that most school districts are not calling in substitutes to replace those teachers who call in sick or are taking their "vacation" and personal time off now since they don't know if they will even have positions for the 09-10 school year.
What did obama react? He just read to me the jobs report I already saw in the morning. Man, this guy is an expert in talk and talking without saying a word.
The move in the USA from a capitalist, wealth producing system to a wealth restricting socialist system will result in continued economic woes.
There's no way around it.
WHat happened to all that good will and confidence people were going to have the second Obama took office?
And don't give me this "this is Bush's mess" business.
If Obama's policies were worth the paper they were printed on then we would have seen consumer confidence grow, people would be spending money, and the economy would have already started its turnaround.
Don't judge the economy based on the Dow. That is not the indicator to use. Jobs are. And so far this year we have lost 2M + jobs which is soon to approach the total number lost all of last year. And it is only April.
Hold on folks. Once liberal policies take hold you can bet businesses will be needing to trim more jobs to pay for the enormous tax burden being placed on them.
You got what you asked for. Change. Too bad the change is not for the better.
Yes, it is tragic, so many jobs lost. But we have to be patient. Bush took 8 years to destroy the country and Obama can't clean up his mess in three months. It will take time.
The last 3 monthly unemployment numbers have been revised UPWARD at least 18% because the government normals were ridiculously off based.
January – unemployment for the month was revised from 600,000 to 740,000....
how are we so far off? That's a 23% difference.
U6 – the best unemployment number to compare to the Great Depression from the 1930s, sits at 15.8%.
That is incredibly high, and will continue to grow quickly.
And instead of taking a MOMENT to think how we might CUT our spending since fewer people are working (less tax dollars)... Obama pushes HARDER for his $10 Trillion deficit-ballooning budget.
Gosh – maybe if I loose my job I can run up $100,000 on credit cards. THAT makes sense, doesn't it???
Darn! That will put Obama back in front of the cameras for at least another week.
He said, "I don't really care, I'm set for life".
Is anyone going to call this clown on his exagerations? What he should have said is that we haven't seen anything like this since the 70's, when Carter's economic team was making matters worse. This is nothing like the 30's, not even close.
Is anyone in the MSM going to correct his exagerations? Anyone?
Obama Mama has a lot of confidence in our current president.
I'd like to know how much money she is spending right now on electronics, clothing, furniture, home repairs, etc.
This is what will get our economy back on track.
Unless you're out there spending money then you are part of the problem and don't deserve the space on this site to post.
And for your information I've probably spent more this year on "stuff" already than by this time last year.
Someone has to do their part.
2 million on his watch. I suppose he'll be telling us it would have been 5.5 million without his programs, which have saved or created 3.5 million jobs.
I'm confused. President Goodwrench says we have the worst economy since the '30s then immediately says the unemployment rate is the highest in 25 yrs. Let's see the '30s was 70 years ago, not 25. Another case of his dishonesty and misleading double-talk. Guess he did this without reading from a teleprompter.
He is a weak leader and is selling us all out to one-world domination of our lives.
Sad day when this goober was elected. He'll be one and done and we can only hope and pray the damage can be undone.
This is not going to end for some time. This President has no intention of helping the average American. He one agenda HIS.
Soon we will be the USSA United Socialist States of America.
Never thought I'd live to see the day
Obama "unlike anything we have seen since the '30s"
Wrong the worst since your mentor Jimmie Carter was president.
Welcome back Carter.
You need to ask yourself are you better off now (with Obama) or 4 years ago (with Bush) : )
There's that crisis word again, worst since the 30's. Wait, a little later he says highest unemployment in 25 yrs. Maybe he should be saying the economy is the worst in 25 yrs, not since the 30's. He's taking us back to the depression the way he is going to spend. And so many thought Bush spent to much and Obama's basically tripling that. We're in trouble folks............
Keep threatening to raise taxes on small business owners and that number is only going to go up.