Tags: US | Economy | Obama

Obama: Economy Headed in Right Direction

Friday, 02 Jul 2010 09:50 AM

 

President Barack Obama says the economy is headed in the right direction, but not fast enough to satisfy him or many Americans.

The president spoke as a new report showed that the unemployment rate dropped to 9.5 percent in June, the lowest level in almost a year. But that lower overall jobless rate merely reflected that many people gave up looking for work, as employers cut 125,000 jobs last month. Most jobs lost were temporary positions as government census takers.

Obama said that overall, the economy has been creating jobs in 2010. He promised to continue to help the unemployed find work.

The president spoke before flying to West Virginia for a memorial service for Sen. Robert Byrd.

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