Obama Says Employment Showing `Clear' Improvement as Joblessness at 9.4%
President Barack Obama said U.S. job growth is improving after a government report showed employers added 103,000 jobs last month and the unemployment rate fell to 9.4 percent in December from 9.8 percent in November.
In his weekly radio and Internet address, Obama today credited steps taken by his administration to reduce taxes and encourage business investment with helping to restore economic confidence and boost hiring.
‘The trend is clear,” Obama said. “We saw 12 straight months of private-sector job growth, the first time that’s been true since 2006.”
The 9.4 percent unemployment rate reported yesterday was the lowest level since May 2009, as more people either found jobs or stopped looking for work. Those no longer seeking employment are not counted by the government as jobless.
Obama said the economy will remain his administration’s primary focus as the U.S. continues to recover from the worst economic decline in more than 70 years.
“The recession rocked the foundations of our economy, and left a lot of destruction and doubt in its wake,” he said. “So our fundamental mission must be to accelerate hiring and growth.”
Obama called Senate and House passage of the $858 billion tax package at the end of the session last year a “much-needed departure” from the partisan arguments that have stalled some legislation. He said that kind of cooperation should set the tone for this year.
“I’m determined to work with everyone, Republicans and Democrats,” he said. “What we can’t do is refight the battles of the past two years that distract us from the hard work of moving our economy forward.”
Republican Address
In the Republican address, House Majority Leader Eric Cantor of Virginia said his party’s new majority in the House of Representatives will focus on creating jobs, cutting spending and “protecting and expanding liberty.”
Cantor said the House had already acted to cut its budget by 5 percent and will next turn to repealing the health-care overhaul enacted last year.
“At a time when we need to do everything in our power to encourage job creation, the health-care law hangs around the necks of businesses small and large, causing them to not hire new workers, or worse, be forced to let current employees go,” Cantor said.
To contact the reporter on this story: Nicholas Johnston in Washington at njohnston3@bloomberg.net;
To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net
Rate this Page