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Business

Obama warns of more job losses to come

Text by NEWS WIRES

Latest update : 2009-09-20

In a TV interview, US president Barack Obama has warned that despite a better economic situation the "job picture is not going to improve and could even get a little bit worse".

AFP - The US jobs situation could worsen slightly over the coming few months, US President Barack Obama said Sunday.
  
"I want to be clear, that probably the jobs picture is not going to improve considerably and it could even get a little bit worse over the next couple of months," Obama said in an interview with CNN.
  
"We're probably not going to start seeing enough job creation to deal with the, you know, a rising population until some time next year."
  
Obama said he believed the embattled US economy would begin adding jobs but said "you need 150,000 additional jobs each month, just to keep pace with a growing population.
  
"So if we're only adding 50,000 jobs, that's a great reversal from losing 700,000 jobs early this year. But, you know, it means that we've still got a ways to go."
  
As the United States battles its worst recession in decades which dragged down the global economy, Obama hosts the G20 summit in Pittsburgh, Pennsylvania, starting Thursday aimed at tightening regulations to ensure such a financial maelstrom never happens again.
  
Obama launched a full-bore media offensive on five Sunday talk shows as part of his push to get Congress to enact legislation on his top priority of health care reform plan.
  
He began the blitz at the start of a crucial week, including the UN General Assembly and the G20 summit.
  
Obama was appearing on Sunday morning talk shows on ABC, CBS, CNN, NBC and Spanish language Univision.

Date created : 2009-09-20

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