Obama Says Unemployment Drop "Cause for Hope"

President Barack Obama says an unexpected drop in the unemployment rate is "cause for hope but not celebration."

Speaking Friday at a small business in a Washington suburb, Obama took care not to trumpet the gains outlined in the new government report too loudly.

He said the data shows modest progress toward "climbing out of the huge hole that we found ourselves in." But he said that "far too many of our neighbors and friends and family are still unemployed," requiring much additional work to bring the economy back.

Obama also cautioned against reading too much into the single report. He said that "these numbers will continue to fluctuate for months to come."