June 17 -- In an interview of the President yesterday by Hunt, Obama predicted the jobless rate will continue to climb from its current 25-year high of 9.4 percent as employers are slow to take on new workers.
Hunt: Will unemployment reach 10%?
President: “Yes,”
Hunt: Before the end of this year?
President: “Yes,”
President: “I think that what you’ve seen is that the pace of job loss has slowed and I think that the economy is going to turn around. But as you know, jobs are a lagging indicator. And we've got to produce 150,000 jobs every month just to keep pace. we will end up seeing recovery shortly.”
President: “Yes,”
Hunt: Before the end of this year?
President: “Yes,”
President: “I think that what you’ve seen is that the pace of job loss has slowed and I think that the economy is going to turn around. But as you know, jobs are a lagging indicator. And we've got to produce 150,000 jobs every month just to keep pace. we will end up seeing recovery shortly.”
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