July 2nd, 2009
02:58 PM ET
5 years ago

Obama: Figures show recession slowing, despite job report

Obama says the recession is slowing down.
Obama says the recession is slowing down.

WASHINGTON (CNN) - President Barack Obama on Thursday called the nation's latest unemployment figures sobering, but said the economic recession is slowing.

In a Rose Garden appearance with chief executives of clean-energy companies, Obama noted the average number of job losses in the current quarter has been 400,000 a month, compared to a monthly average of 700,000 in the previous quarter.

"It took years for us to get into this mess, and it'll take more than a few months to get out," Obama said.

Related: Boehner, GOP blasts jobs report


Filed under: President Obama
soundoff (124 Responses)
  1. Dutch/Bad Newz, VA

    CEO's didn't wake up one morning and say let me layoff all of these employees. They're feeling it in their pockets and layoffs are going to occur. But as the President said, we didn't get into this jam overnight.

    July 2, 2009 03:01 pm at 3:01 pm |
  2. lynn in NM

    Jobs. Housing. But AIG is looking up.

    July 2, 2009 03:01 pm at 3:01 pm |
  3. Open Your 3rd Eye

    FOR CRYING OUT LOUD, PEOPLE!

    The economy WILL NOT get better until next year.

    Period-point blank-end of story

    Stop looking for signs so soon, you will NOT find them. I promise you that.

    Your boy Bushy tore the place apart and we will not have it back in order any time in 2009, trust me.

    This is not a house we are renovating, IT'S A HUGE COUNTRY.

    Be realistic, and get a grip!

    Thank You!

    July 2, 2009 03:03 pm at 3:03 pm |
  4. George

    This will never get better until our legislators, not just President Obama, get off their butts and bring jobs back to America. We will never get better with other countries doing our work, while we are unemployed. The tax base is jobless. The workers of the world are not
    paying into the American tax system. Like Hillary said many times.
    JOBS BABY JOBS!

    July 2, 2009 03:04 pm at 3:04 pm |
  5. Dennis

    "pay no attention to the man behind the mirror" I think we've heard this one before.

    July 2, 2009 03:05 pm at 3:05 pm |
  6. Classy 57

    Excuse me, Bo, things were okay two years ago - you've been in DC for six months - things are not getting better - you have done nothing to help the American worker or the American public. Stop the rhetoric and get some sound, intelligent people to work with you - not those radicals you have chosen - and where's Hillary?

    July 2, 2009 03:05 pm at 3:05 pm |
  7. It took years for us to get into this mess

    8 years, thank goodness the GOP is having a bad run, if they had won again we'd be sold to China and Japan by now

    what a nightmare Bush/Cheney were and are

    July 2, 2009 03:05 pm at 3:05 pm |
  8. SUSAN

    Before the STIMULAS BILL get passed, the CBO estimated unemplyment rate around 8.5% contrary to OBAMA's UNDER 8%. Now the unemployment is hitting 9%. Whom should I trust? !!!

    I trust the CBO's estimate more on HEALTHCARE this time. Let's be fiscal cautious.

    July 2, 2009 03:06 pm at 3:06 pm |
  9. Rob

    ..And with the stunts you, Pelosi, Reid, and the other Dem idiots are pulling, it's gonna take a LONG time to recover.

    Can't wait til 2010, when we can get Pelosi and Reid out, then 2012, when Obama will be overwhelmingly voted out of office.

    On the plus side though, the Dems are going to finally prove to everyone that they are all talk, no action.

    July 2, 2009 03:07 pm at 3:07 pm |
  10. MEL IN florida

    I truly belived that our President is taking us to the right direction. You working hard and we are working with you. We proud of you and our Nation. Thank you.

    July 2, 2009 03:08 pm at 3:08 pm |
  11. RR

    But the stimulus package you demanded get rushed through without anyone reading was supposed to keep unemployement under 8%!!

    Why should we believe you, Mr. President?

    July 2, 2009 03:09 pm at 3:09 pm |
  12. blue stater

    who is going to pay for all this spending is what i want to know? he should not be worried about jobs but instead the people who create them. the mood now is one of just protecting what you have instead of opening yourself up to govt. confiscation.

    July 2, 2009 03:10 pm at 3:10 pm |
  13. Jaz in Chitown

    "It took years for us to get into this mess, and it'll take more than a few months to get out."

    Is there a liberal newsletter telling you what to say?

    July 2, 2009 03:10 pm at 3:10 pm |
  14. Legna

    Well if unemployment keeps slowing we should reach 20% by Feb. 2011. There is nothing happening but the methodical rape of this countries private business structure. No way small businesses will survive cap and trade, medical syetem, or taxes (State,federal, property,value added,estate,etc.) The private sector will soon disappear with its jobs.....BEWARE!!!! Obama will b able to use George Bushes stupid statement ....MISSION ACCOMPLISHED!!!!

    July 2, 2009 03:11 pm at 3:11 pm |
  15. Josh

    Patience isnt something we possess. We need to remember that it took eight years to screw up the economy and that it will take time to fix.

    July 2, 2009 03:11 pm at 3:11 pm |
  16. Mark B.

    It didn't take years to get us into this mess. It took since 2006 when all the congrssional shenannigans began. Pelosi, Reid and Frank brought us this in a very short time.

    July 2, 2009 03:13 pm at 3:13 pm |
  17. Scott, Tucson

    Well since 2006 the democrats have been in charged of the congress so I guess a good deal of blame lies there folks. Lets not forget that the culprits behind the Freddie Mae and Freddie Mac debacle which help started the recession mess were Barney Frank, Chris Dodd and Charles Schumer and for some odd reasons, these guys are still in charged of their committees and not behind bars? I'm sure those newly 700,000 unemployed in the last quarter was not the CHANGE they expected from Obama.

    July 2, 2009 03:14 pm at 3:14 pm |
  18. K. in Miami

    It's amazing that Republicans claim the state of our Economy is caused by a President that has held office for 6 Months...

    I think this is why Republicans are viewed as so disgusting and HYPOCRITICAL....

    We know what really caused the economy to turn into it's current state, one word-(REPUBLICANS)........

    It's as if George Bush was never in office for the last 8 years, to Republicans, the last 6 months are to blame.....Only the narrow minded 21% of white america believes this nonsense........

    July 2, 2009 03:15 pm at 3:15 pm |
  19. IndyVoter

    Exactly! Pres. Obama already told anyone who was listening that it was going to get worse before better and that 2009 was going to be a pretty lousy year....Another point....critics keep saying that Obama promised that the unemployment rate would not go over 8%. Really? did he PROMISE? He and his economic team made an estimate based on the information that they had at the time (1st through 3rd quarter numbers)...Once the HORRIFIC 4th quarter figures, that nobody, not even Republicans, thought were going to be that terrible, came out, they made adjustments accordingly....as any sane, rational, person with comomon and any ounce of economic sense would do....What doesn't make sense is to keep screaming tax cuts and not offer ANY solutions to fix economic and other domestic problems that have been festering for years and are killing us...sounds like those that start with an "R" and end in "ublicans".

    July 2, 2009 03:16 pm at 3:16 pm |
  20. Right Leaning Independent

    Yes, 16 years for this mess to evolve. Ever since Clinton relaxed the lending laws and forced banks to make home loans to folks that did not deserve them. I just want you to answer why the stimulus has not provided jobs as you unwaveringly said it would do??? Could it be that you had no clue what you were doing at the time??? Sure is beginning to look that way..

    July 2, 2009 03:18 pm at 3:18 pm |
  21. David

    The market is going to correct inself.

    Obama is going to have nothing to do with it, if anything the "stimulus" has slowed things down, but is there any doubt he's going to take credit when it does turn around?

    July 2, 2009 03:20 pm at 3:20 pm |
  22. Robin

    Thank you President Obama, I feel better. It must be all those "saved jobs" that slowed the recession down.

    July 2, 2009 03:21 pm at 3:21 pm |
  23. Brian in TN

    That don't help me none. Give me some money!!! I voted for you now where is my check???

    July 2, 2009 03:21 pm at 3:21 pm |
  24. Right Leaning Independent

    How long is it going to take to get out of the mess that Obama is creating by spending like a drunken sailor? Spending beyond ones means – is that not what got these homeowners in trouble today? Lesson NOT Learned....

    July 2, 2009 03:21 pm at 3:21 pm |
  25. Pat F

    Yes, Barry, it's taken years for the Democrats to destroy our economy.

    -Years of political favors from Barney Frank and Chris Dodd to Fanny and Freddie.

    -Years of NINJA loans (no income, no job, no assets) as required by so called "Fair Housing" laws.

    -Years of blackmailing institutions into giving mortgages based on some social engineering goals instead of the ability of the borrower to repay.

    Because the mortgage meltdown has caused this recession, make no mistake about that. Nothing else even comes close.

    July 2, 2009 03:22 pm at 3:22 pm |
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