(CNN) - More than a week after the Labor Department announced the nation's unemployment rate had reached a 26-year high, President Obama warned Tuesday he expects the figure will continue to increase for "several months."
"How employment numbers are going to respond is not year clear," Obama told reporters before departing to Michigan for a speech on the state of the economy. "My expectation is that we will probably continue to see unemployment tick up for several months."
"We had a problem even before this recession, even during periods of economic growth, where the pace of job growth, wage growth, income growth was not moving as quickly as overall economic growth," said the president. "The last recession that we had, the recovery was termed a 'jobless recovery.' We can't repeat that approach."
The latest jobs report, released earlier this month, indicated 467,000 jobs were lost in the month from June, up from the 322,000 eliminated in May. Unemployment rose from 9.4 to 9.5 percent.
From CNN Politics
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You can count on the negative forces of evil, that is the GOP to wail away at President Obama's efforts to turn around the economy for cheap political points, while offering nothing as an alternative, but tax cuts and more deregulation
Just keep in mind that whenever you steeply cut taxes while financing a war (which is unprecedented in US history), and removing all accountabilty and responsiblity from wall street and corporate america, this is what you are left with, a stagnant economy.
I pray America will not capitulate to the forces evil again.
Obama's report card? F for failure. Yet the dumbocrats keep on digging themselves into a hole. They should never be allowed to be in power again.
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows that 28% of the nation's voters now Strongly Approve of the way that Barack Obama is performing his role as President. Thirty-six percent (36%) Strongly Disapprove giving Obama a Presidential Approval Index rating of –8.
Wow 2 months ago he said unemployment wouldnt pass 8 percent.
Now he says it will get worse . He signed a 7 trillion dollar bill to fix this. That didnt work . His cap and trade bill will create jobs .
We already know thats a lie. He doesnt have a clue.
You can count on the negative forces of evil, that is the GOP to wail away at President Obama's efforts to turn around the economy for cheap political points, while offering nothing as an alternative, but tax cuts and more deregulation
Just keep in mind that whenever you steeply cut taxes while financing a war (which is unprecedented in US history), and removing all accountabilty and responsiblity from wall street and corporate america, this is what you are left with, a stagnant economy.
At the beginning of the year, he said it would not top 8%.
I thought reason for the big push to pass the almost 900 billion spending bill was to stop unemployment from raising past 8%? What happened?
When did the light bulb go off?? Did he just figure out that the pork filled stimulus didn't work and there was no way it could have worked?? Hopefully he'll realize that another stimulus plan and taxing the few remaining workders would be a huge mistake. But that's wishful thinking and we all know an out of touch community orgainizer doesn't have a clue.
What??? I thought that by passing the stimulas bill back in January, this would prevent unemployment from going into double digits. I love how he keeps tell us to be patient. He is hoping for a natural recovery and then he will take credit for it. Seems like he does this all the time.
Pinnocchio speaks again..the obumbler wouldn't know the truth if it jumped up and bit him..and how much did the little london spending spree for his wife and daughters cost the american people??..I'm sure we will never be told..of course when you aren't a natural born american and the sitting president you can do what you want
Again, not his fault...."we had a problem before the recession...." When will the man accept responsibility for what he had done??? Take off the rose-glasses america !
26 year high!! Thanks Obama...I want my vote back, this is not the change I voted for. We were sucker punched by your empty promises. A good speaker does not make a good president. Lesson learned!
I am sure that the unemployed people will find Barack's comments as refreshing as hot air on sweltering summer day.
Yes Barack, the unemployment figures are rising, very perceptive of you to notice.
Obama's crystal ball is cracking.
It's a good move giving all of that money to community college's, but only 40% of blacks are graduating from H.S. and only 50% of minorities are.
We have to work on things that will keep these highly at risk people in the educational loop – and or planning for economic success.
We can't afford not to invest in this group or the gaps are going to widen and the recovery from that point will really seem hopeless.
This will get worse before it gets better...people should know this...we'll recover...
Thankfully, Ryan Seacrest just signed a $15 million deal! At least he won't have to suffer living on only $5 million.
Pathetic. Pre-soften the blow, Mr. President.
The country is watching, and enough of them will know the real story come 2012.
Obama told us that the stimulus would create or save 3 million jobs. He forgot to mention that in the process we'd lose all the others.
Wake up America! The promise to sell us the bailouts ( multible bailouts to date) was to save Main Street not Wall Street. Well who was saved? The Mega rich have their bailout, they get to keep the summer home in the Hampton's, keep the winter home in Florida, they get to keep their bid fat bonuses, and what did the American worker get?
A PINK SLIP! And watch their jobs sent to China, Mexico, and India...
None of these Elitists in either major party care about the American people, they are all working for the "Progressive Government" bringing about the "New World Order" and these plans have nothing to do about holding the values of the U.S Constitution, our freedom and liberty is being sucked away while we eat our Big Macs.
Of course unemployment will continue to rise – and I'm glad he openly says it instead of leading the country astray like the republicans did.
This economy is the fault of the republicans.Period.