September 20th, 2009
09:00 AM ET
5 years ago

Obama weighs in on jobs outlook into next year


WASHINGTON (CNN) - Even as some economic indicators - and the nation's top banker - suggest that the struggling economy may be turning around, President Obama again predicted the country will not see large-scale job growth until next year.

"[T]his is something that I ask every single one of my economic advisers every single day," Obama said when asked about jobs during an interview that airs Sunday on CNN's State of the Union. "Because I know that ultimately the measure of an economy is, is it producing jobs that help people support families, send their kids to college? That's the single most important thing we can do."

While the president said there was evidence the financial markets were beginning to function properly again and that the manufacturing sector is beginning to pick up, he refused to say definitively that the recession which began last year was over.

And Obama even suggested that the national unemployment rate, which is hovering at just under 10 percent, could climb higher in the near future.

"I want to be clear, that probably the jobs picture is not going to improve considerably - and it could even get a little bit worse - over the next couple of months," the president told CNN Chief National Correspondent John King, "And we're probably not going to start seeing enough job creation to deal with the - a rising population until some time next year."

Obama added that he thought the economy would be creating jobs throughout the end of 2009 - but not enough to keep pace with population growth and to make up for steep losses in employment that occurred earlier this year.

"I think we'll be adding jobs, but you need 150,000 additional jobs each month just to keep pace with a growing population. So if we're only adding 50,000 jobs, that's a great reversal from losing 700,000 jobs [a month] early this year - but, you know, it means that we've still got a ways to go."

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Filed under: Economy • President Obama • State of the Union
soundoff (30 Responses)
  1. Matt

    I hope the economy does have a robust recovery right before the 2010 elections, and that it ends up leaving even more Republicans out of power. If Republicans had their way, we would be in the middle of the sequel to the Great Depression right now. Where are your solutions, Republicans? Oh, that's right, you don't have any.

    Keep complaining, party of whiners! WAAHHHH!!!!

    September 20, 2009 01:15 pm at 1:15 pm |
  2. Farrell in Houston

    The problems with a lot of jobless people is they want the jobs back they had which aren't coming back and a high school diploma or less doesn't qualify them in a competitive job market with those who have degrees. If there are those who don't see why Obama often stress education, now is the time to prepare yourself for the 21st century.

    September 20, 2009 01:19 pm at 1:19 pm |
  3. Mike in MN

    Once the economy really starts to grow inflation is sure to take off because of the massive deficits. This could be a serious strain on the economy. If cap and trade were thrown on top of that the economy could buckle. All this could push us into a double dip recession before jobs every have a chance to catch up. So far Obama has ignored the defictis and wants cap and trade passed.

    September 20, 2009 01:42 pm at 1:42 pm |
  4. m jeff

    Stop the greedy CEOs that are exploiting poor countries for their slave labor. Put tariffs back on all imports, and end free trade, and start fair trade.

    September 20, 2009 01:46 pm at 1:46 pm |
  5. richard

    Obama is not a liar just a loser one term buddy that's all your going to get then maybe you can make money giving speeches but na if your reading it off a telepromter so can we all so you will be with the 10 % jobless serves you right

    September 20, 2009 04:29 pm at 4:29 pm |
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