Economy

President Says Jump In Jobless Rate Is 'Sobering' & Underscores Challenges

Last month's 10.2% unemployment rate — the first time that statistic has been in double-digits since 1983 — is a "sobering" reminder that the economy faces many challenges, President Barack Obama just said:

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As Obama says, he also today signed into law an extension of unemployment benefits for almost two million people.

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