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. J Jackson

    So Obama is living in Neverland now? He needs to go out on the street and deal with the banhandlers that we have to deal with.

    July 2, 2009 03:24 pm at 3:24 pm |
  2. Derrick

    It took 8 LONG years for George Bush to bring this country to its knees, practically bankrupt us, and divide us.

    As Obama said, it will take more than a few months to get out of this mess. People need to calm down and be patient.

    July 2, 2009 03:25 pm at 3:25 pm |
  3. Claudia in Houson

    Some jobs won't be coming back and the sooner people recognize that the quicker they can retrain for new jobs.

    July 2, 2009 03:25 pm at 3:25 pm |
  4. Herbie

    Beyond my comprehension. How can inflation be getting better when
    unemployment contiues on the rise? What does he see that others don't/? Please explain.

    July 2, 2009 03:26 pm at 3:26 pm |
  5. Steve in NYC

    I understand why he speaks in such generalities.... good for the TV sound bite. However, I wish for us adults he would stop saying "years for us to get into this mess". THE ELECTION IS OVER. Is it the credit crisis he is referring to? If so, I'd like to hear something about how he or anyone else is trying to correct or make right those things that caused it. I'd also like for him to stop throwing trillions at the problems.

    Otherwise, 4 years from now it will be some other politician saying "it took us 4 years to get into this mess".

    July 2, 2009 03:26 pm at 3:26 pm |
  6. Tatianna

    Obama statements has expiration dates. It is absolutely shocking when his supporters high hopes are shattered by the reality of what is going on. Obamanomics is not economics, its ideology!

    July 2, 2009 03:26 pm at 3:26 pm |
  7. George

    I saw on your other article that Boehner and the GOP are using dogs now to push their ideas. Congratulations. This is a step in the right direction. You traded in Rush and Joe the Plunger for dogs. Good job GOP.

    July 2, 2009 03:27 pm at 3:27 pm |
  8. seebofubar

    Just keep your trap shut Obama. Every time you open it up the stock market takes a nose dive. Stick to taking your wife out to dinner, you're good at that.

    July 2, 2009 03:28 pm at 3:28 pm |
  9. Randolph Carter

    Healthcare and the environment will be the next economic bubble. Watch where the big investment banks are starting to put their money. Once the economy turns around in 2 years or so, we'll start seeing a lot of prosperity in these sectors. Speculation will eventually blow value way out of proportion. The whole thing will come crashing down in about 10-15 years and we'll be right back here where we started. Everyone have a happy and safe holiday weekend!

    July 2, 2009 03:30 pm at 3:30 pm |
  10. Observant

    I don't believe you anymore and nor does millions of Americans. We are still unemployed. I have been unemplyed for over a year now and my family and friends that do have jobs are being notified that their positions will be ending in 2010. Whatever happened to eliminating the outsourcing. Yes, it took years to get into this mess and within six months you have make it worse, the bailouts are not working, the stimulus plan is a joke. You should be listening to the American people instead of the House and the Senate. It is time for a change, and yes I voted for you. I am looking for a new party, no Democrats or Republicans need run. I want a "Responsible Party" with a candidate that is serious about growth and is not contributing to taking the USA down

    July 2, 2009 03:30 pm at 3:30 pm |
  11. Good job

    ohh boy, here come the Republican criticisms in 3, 2, 1.....

    July 2, 2009 03:30 pm at 3:30 pm |
  12. I agree

    I just got hired for a new job!!!

    July 2, 2009 03:30 pm at 3:30 pm |
  13. niyi

    I dont understand how republicans dont get that. it took years to get in this mess, but they want Obama to get us out in 4 to 5 months. Get real. Now people like me can critic what he has being doing so far, but members of congress needs to shut up, especially Micheal steele. We elected this people to make changes at their respective positions, but all they seem to do this days is critic the president. well what are you people doing to help. you point a finger at someone and their are 3 pointing back at you. Make Changes Micheal and help the president make AMerica better.

    July 2, 2009 03:30 pm at 3:30 pm |
  14. worriedmom

    what a bunch of crock! Months ago he was preaching that the stimulus had to be approved right away and that jobs were gonna be made available immediately. Now he backs off saying there will be more to come. This man talks from both sides of his mouth and I am not convinced he will say anything to please someone at the moment. He is going to ruin this country and guess what, Bush has nothing to do with this now. Your "Chosen One" has tripled the deficit on his own and he is still throwing money out. If he is so serious abuot saving, start with Congress salaries and health benefits and his own. Betcha you won't have any volunteers on that one!

    July 2, 2009 03:30 pm at 3:30 pm |
  15. Cowboy in West Texas

    400K is better than 700K – I agree – so the slippery slope is not as steep as it was but sure doesn't say how deep it will get! Keep waiting to see all the jobs the stimulus package promised – you know – shovel ready projects? Where is the money? Where are the jobs?

    July 2, 2009 03:31 pm at 3:31 pm |
  16. ONE LOVE

    That's right Mr. President.....it will take years to clean up after Bush!!

    July 2, 2009 03:31 pm at 3:31 pm |
  17. Dave

    Recovery is coming. America can't be held back, no matter what John Boehner would like us to believe.

    July 2, 2009 03:32 pm at 3:32 pm |
  18. johnnie

    anyone ,especially the gop ,that cant admit that this problem started with george bush and dick cheney and 8 years of recklous polictics, is in total denial of the truth. here it comes with the emails from the right saying the president policies are the reason ,to much spending,that is a bunch of bull. america, the uneployment in this country was created from the bush era, and the president had it waitng for him as soon as he took power. the stock market has gone up and down, wall st. destroyed that.so get off the president ,it is not his fault.

    July 2, 2009 03:32 pm at 3:32 pm |
  19. JoblessInVancouver

    I am starting to get tired of the President using the same excuse over and over. It's starting to sound like a broken record... "it's not my fault, I inherited this mess... It's gonna take a loooooooong time to get out of this, blah, blah blah.". I bet you if the numbers were positive, he would have said something like.."See, I told you. Our way of spending out of the recession is working now.."

    July 2, 2009 03:33 pm at 3:33 pm |
  20. BeefMasterX

    This is more news that CNN won't tell you about.....
    FBI Interviews: Saddam Bluffed About WMD Out of Fear of Iran
    In interviews with the FBI before his death, the former Iraqi dictator said he was more afraid of Iran than the U.S. and denounced Usama bin Laden as "a zealot."

    July 2, 2009 03:36 pm at 3:36 pm |
  21. Thin is in?

    He needs to hold some more phony town-hall meetings where ALL the people are chosen and ALL the questions are chosen as he is so transparent, maybe like a piece of wood.

    You sheep are being hoodwinked by this fraud in chief and only a few of the usual sources are reporting the FACTS.

    Missed the story on Gibbs pathetic performance yesterday when CBS and others actually did their jobs and asked Gibbs what the bleep that charade was all about.

    This fraud in chief here fails to note that we are at a 26 YEAR HIGH, and those miliions of jobs he is saving and creating are a MYTH, just like his presidency.

    Time to hurry and post before Oprah Obamabots, defend YOUR president.

    July 2, 2009 03:36 pm at 3:36 pm |
  22. MJH

    We would be in a lot better economic shape if OIbama and Pelosi has used the stimulous money to create jobs rather than to pay off Democrat Party constituencies. It is a scandal that only l0% of the money will be spent this year. This recession may have started with Bush, but Obama's policies are exacerbating the problem.

    July 2, 2009 03:36 pm at 3:36 pm |
  23. JayG

    I luv how Obama always talks about how it took years to get into this mess, It didnt take him years to spend all the money that he said will correct this mess, so why would it take years to fix? same time next year will be the same results and the same speech

    July 2, 2009 03:37 pm at 3:37 pm |
  24. annie s

    We're on the right track. Thanks to the Recovery Act, my sister was able to keep her teaching job. My niece, who fell behind on her mortgage payments when her husband lost his 2nd job, is able to refinance under the government's mortgage plan and will be able to stay in her home. And my husband has recently added one employee to his small business. Nothing earth shaking, but slow and steady progress. We know it takes time and we support the President's agenda.

    July 2, 2009 03:38 pm at 3:38 pm |
  25. The Lonely Libertarian of Liverpool NY

    Yes I agree the recession is slowing for the mega rich, but the working middle class has been in recession for over thirty years. We see no recovery, only job loss, home loss, starvation, and loss of self respect. The American citizen certainly has no respect from our Government leadership who treat as servants to their power not as free citizens, or even as human.
    I feel as if we are stranded and enslaved to a government who only need for us is to pay them over half of our earnings.
    Our government is only concerned about their next fund raiser, the next lobbyist payment, and corporate vacation.
    Time has come to elect people who reject the big money and want to restore freedom and liberty to everyone, not those who are willing to pay to play.

    July 2, 2009 03:38 pm at 3:38 pm |
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