Obama: Unemployment Rate Likely to Rise

President Says Job Loss Will Continue as the Economy Recovers

(AP)  President Barack Obama says unemployment is likely to tick up for several months as the economy recovers from its deepest downturn in decades.

The president said Tuesday that renewed employment typically lags behind other signs of improvement as a swooning economy turns around.

More than 2 million jobs have been lost since Congress passed Obama's $787 billion economic stimulus package. The unemployment rate stands at 9.5 percent, the highest in 26 years.

Obama said the single biggest challenge for the U.S. and other nations is the creation of enough jobs that pay good wages.

He spoke in the Oval Office after meeting with Dutch Prime Minister Jan Peter Balkenende.

[CBS-Fan]

It's just so sad to hear of the latest unemployment statistics. It definitely goes to show that we all affect and are affected by each other. Kudos to CBS, President Obama, his staff and all citizens within this world who are doing their part to help lower this unemployment rate!

While the unemployment rate is high due to job loss, on the flip and bright side, there's a definite light at the end of the ?tunnel of hope? for those individuals who are currently in the midst of employment transition due to job loss or seeking a more prosperous employment future......

???AT&T is currently hiring in numerous locations throughout the world! Examples of some of the positions currently available to those who possess excellent customer service skills are the Customer Service Representative positions for Wheeling, West Virginia and Boardman, Ohio. For those who possess excellent sales skills, there are also the Telesales Representative positions for the Birmingham (Hoover), Alabama area available!

If you or someone you know is interested in all or any one of these three opportunities mentioned, I encourage you and/or those you share this info to call immediately to schedule an appointment to meet the AT&T team: 1-866-344-5627

Note: (This is a 24 hour number with live operators standing by to receive calls.)

?Inform the operator that you are calling to apply to the Customer Service Representative position for Wheeling, West Virginia and/or Boardman, Ohio and/or the Telesales Representative. For all other opportunities with AT&T, go to www.att.jobs

Together we each can make a positive difference and do our part to help contribute to the reduction of the unemployment rate!

Best wishes to all who are currently directly in the midst of an employment transition! Put your heart and soul into doing your best and all will be well soon!

[CBS-Fan]

To all readers of my comment: Please disregard the question marks "?" within my comment to this article, it's a few bullet icons that did not appear properly when I submitted the comment. Thank you! (smile)

[6591Hou]

idcabouturproblems July 14, 2009 2:42 PM EDT
"...The deregulations are what killed the economy and Regan promoted the deregulations which sent our country into a smaller but similar recession and increasing debt...".
=========================
You are off target, deregulation didn't kill the economy - the reverse would be government regulation grew the economy (which has never been the case).
No president, Carter, Reagan, Bush, Clinton, Bush Jr, or Obama singlehandedly made the economy do anything - look to the Congress and the Senate, the rule makers(breakers) and the folks who barter political clout for lobbyist contributions - that's who steered the bus off the cliff.

[superdynamite]

Wow. He figured that out all by himself??? or did it take 5 more Ivy League morons.

I love Obama, but come on.

[richinnc]

Obama says unemployment is likely to go up and he is right about that. Company I work at laid off 8 more people today (42 of us left) . I think we need to lay off the politicians that think we can spend our way out of this mess. We also need to stop being so concerned about Wall street and Auto companies and be more concerned about Main St.

[richinnc]

Obama says unemployment is likely to go up and he is right about that. Company I work at laid off 8 more people today (42 of us left) . I think we need to lay off the politicians that think we can spend our way out of this mess. We also need to stop being so concerned about Wall street and Auto companies and be more concerned about Main St.

[WriterDoc]

While we're busy blaming politicians for our ailing economy...

Consider also the mass culture of needing - believing - that we're entitled to: a restaurant for a kitchen, a four-star eatery for a dining room, a movie theater for a living room, a hotel suite for a bedroom, a city park for a backyard, and a playground for our kids - all on middle class wages. It's an unaffordable aesthetic that grew into an addiction for America. We're partly to blame.

[GiveMeFreedom]

But I was promised all of these things if I voted for Obama! You mean the democrats lied to us AGAIN?

[GiveMeFreedom]

I guess the NEW MATH of Obama is as follows:

8% = 15%

I did not learn this of math, but maybe I am just too old.

[STBY21]

Obama:
Hates big business, but gives them billion$ in bailout$

Says he is for helping the middle class and poor, but gives us $13 a week.

Doesn't want to run the auto industry, but is running the auto industry

Hates corporate tax breaks, but now giving bigger corporate tax breaks to GM

Wanted to move away from the reckless spending of the previous administration, but now is spending money faster than any previous President.

Says he is going to create millions of jobs, so far has cost us millions of jobs

[Benton09]

If Obama's last name was anything else, he would still be president.
If Bush's last name was anything else, he wouldn't have made head janitor. The evil Bush name is the only reason we had to put up with that idiot for 8 years.

[beaumuff]

That was a pretty good guess obama,put that in the records he finally got one thing right. Remember you heard it first from Obungler.

[rushlimpdrug]

Folks! Don't worry, good jobs are coming! !

And right behind the jobs will be foreigners from India,
the Philipines, Pakistan, and all the other countries to
fill them, because they are sooo much more hard working,
smarter, and cheaper than any American.

[xlib]

Looks like the wise one biden was right, they guessed wrong and misread the economy. And of course, Bush is to blame. Why, he didn't TELL them how bad things were!
This from a thug who had his own little podium with "office of the president elect" housing this teleprompter. This from the thug who held daily news conferences for the baiting breath msm. This from the thug who told us how "on top of things they were". This from the thug that belongs to the party in the majority for two years.
He is too happy for words. This is what he wants. He wants the country to be totally beholding to the government. It's about power and money. Looks like he has the power and is now taking all of our money.
Welcome to the USSA.

[greene_teeth]

Unemployment is approaching 20%. Depression not recession. Doubt if Obama cares about his approval rating...he already has a paycheck for the rest of his life, free medical coverage for the rest of his life, free schooling for his kids, on and on. Just like ole Madoff spending the rest of his life in prison at 71...predict next we hear that he has some dreadful disease...this dude has already lived a great life...how did Madoff pay for the consultant to find a suitable prison?...all of this is just to protect what life he has left...Why did Obama let a law be passed that the burden of proof for any kind of job discrimination is solely on the individual? Like most of us did not already know that was the case. Why is billions still being given to banks? Much cheaper to just give oh say $500,000 to each individual. by the way, are these banks paying income tax? Hey we did not put anybody in government and someday this too will be revealed. Farce of voting.

[USASTILLONTOP]

He's a regular genius. What's next? This is just amazing. Talk about a srew up. Nice job to all you idiot liberals voting for this clown.
So to fix this he's now gonna increase spending again. This coming from a guy who bashed Bush for his stimulus checks of a couple of years ago. Too funny... Hope you're all happy...

[GiveMeFreedom]

Agreed. I was out the other night and all of these young people were celebrating the fact that they voted to Obama. Funny, no jobs for young people and he is bankrupting their future, so maybe we should stop worrying about their futures after all. It will be one long hangover, but let them celebrate it every year as they make no money to pay off his debts.

[endurorob]

the74blaster July 14, 2009 12:32 PM EDT
Yeah, I guess its tough to hear the truth about economic recovery in a severe recession. However, its better than the meaningless sloguns the previous administration offered during a crisis. In fact did the Bush administration ever recogonize that a recession existed?


It's been well over half a year now. Obama is the one that stated the stimulus would prevent a rise in unemployment. Now they say they didn't realize how bad the economy was, a good excuse for a failed policy.

[USASTILLONTOP]

this is too funny. The man bashed Bush for his stimulus checks that were sent out and now he's doing the same thing only ten fold... He's a moron.

[econfacts101]

FACT: Obama has been in office 7 months. Policy shifts begin to take place the day after the election which was 8 months ago.

FACT: The last 6 months has seen the highest loss of jobs in any 6 month period in the history of this country.

FACT: It was Obama who said passing the stimulus bill would prevent unemployment from rising.

FACT: The bill passed and unemployment rose!

FACT: While Obama is doing some things well, his economic policies apparently are crafted by the "Three Stooges". Those same policies are what put New York, Ohio and California in the crapper. Oh yeah...Colorado is about to tank under their new "progressive policies" as well. "Progressive" apparently now means regressive. What more proof do we need this stuff doesn't work. Obama needs to fire the idiots and get help from someone like Senator Evan Bayh, a good, true democrat who understands fiscal responsibility. He has a proven fiscal record from his days as Governor of the State of Indiana.

Let's stop speaking falsley and deal with the facts!!

[idcabouturproblems]

I would love to see Bush get relected for a third term and see how he would do this. cheney would probably just call in the CIA to assassinate the economists in Wall Street.

[sjc_1]

There are lagging factors, financial problems, credit freeze and reduced business activity lead to job loses. It is not hard to connect the dots, unless you chose not to for blind idealogical reasons.

[GovernmentControl]

When will obama admit that the "stimulus" is the greatest waste of tax payer money in american history?

Obama The Fraud

[drsuz]

Thats right..Obama said that the "HUGE" stimulus bill would "CREATE" more jobs and put many unemployed back to work and build the economy back up..Watch, now the Obamaites will blame the stimulus package failed all because of Bush and the GOP.

[endurorob]

What do you mean the unemployment rate is likely to rise? I thought you said your spending plan (stimulus package for you Obamaniacs) would keep the unemployment rate from going above 8%.

[the74blaster]

Yeah, I guess its tough to hear the truth about economic recovery in a severe recession. However, its better than the meaningless sloguns the previous administration offered during a crisis. In fact did the Bush administration ever recogonize that a recession existed?

[idcabouturproblems]

I would be thrilled to see a Republican come up with a better plan to help stimulate the economy. Thx for f***ing up the country Bush! The deregulations are what killed the economy and Regan promoted the deregulations which sent our country into a smaller but similar recession and increasing debt. It is too late for Obama to pull the country out of the recession without taking a few hits first. This problem could have been averted during the Bush administrations? reign.

[GiveMeFreedom]

idcabout - So you think President Bush was smart enough to not only mess up the entire American economy last September, but the entire world's economy as well. I am not quite sure how he could have singlehandedly ruined the stock market, bond market, interest rates, housing market, foreign markets, oil markets and every other market by himself.

If he is truly that strong of a person, then please get him back in office as he is likely then the only person who can fix the problem.

Or is it just possible that this problem has been building for years. Let's start with FDR and social security which is bankrupt soon. You know President Bush wanted to deal with this issue early on and the democrats fought it. Then there is the medicare and War on Poverty started by Johnson. What a success the War on Poverty has been too. Yep, almost no poor people left in the U.S. Brilliant move by Johnson and the democrats in Congress. Then the weakening of our country under Carter.

Heck, the way I see it the only decent democratic President in the past 70 years was Bill Clinton. At least he understood the importance of markets. I guess JFK did too as he actually worked to lower taxes on Americans, but he was murdered too early to see most of his programs through.

But keep blaming Bush. Makes me so glad I left the democratic party in the 80's. Cannot stand liberals and the programs you insist that I pay for.

[IThoughtItWasFunnyNOPE]

Of course the unemployment figures are going to rise...they've risen every day since the commies got both houses in 2007...

No businessman with a spit of sense is going to risk money while the insane commies have the government AND a communist in the White House...

Businesses support a free, capitalist nation...THEY DON'T BELIEVE MUCH IN COMMUNISM...

[IThoughtItWasFunnyNOPE]

Of course the unemployment figures are going to rise...they've risen every day since the commies got both houses in 2007...

No businessman with a spit of sense is going to risk money while the insane commies have the government AND a communist in the White House...

Businesses support a free, capitalist nation...THEY DON'T BELIEVE MUCH IN COMMUNISM...