WASHINGTON (CNN) - President Barack Obama said Tuesday that he expects nationwide unemployment to exceed 10 percent this year.
He reiterated a previous assertion that the United States is in the midst of the worst economic downturn since the Great Depression.
"I anticipate this is going to be a difficult period," Obama said.
The president added, however, that he doesn't yet see the need for a second stimulus package. He said it is still too soon to measure the impact of the $787 billion stimulus plan passed shortly after he entered office.
The president made his remarks during a news conference at the White House.