Responding to the unemployment numbers out this morning, President Obama said that the nation is “headed in the right direction,” but added that “were’ not headed there fast enough.”
“We are headed in the right direction,” the president said from Andrews Air Force base, “But, as I was reminded on a trip to Racine, Wisconsin, earlier this week, we’re not headed there fast enough for a lot of Americans. We’re not headed there fast enough for me, either. The recession dug us a hole of about 8 million jobs deep. And we continue to fight headwinds from volatile global markets. So we still have a great deal of work to do to repair the economy and get the American people back to work.”
The unemployment report out today showed that the US economy lost 125,000 jobs in June, though the unemployment rate fell to 9.5%, the Labor Department reported today. The numbers were worse than the 110,000-job loss economist had predicted in a Reuters survey. But the loss is not as sharp as it sounds, since 225,000 of those were Census jobs that temporarily distorted the reading. Private employers actually added 83,000 workers in June.