Obama Says Economy Moving In Right Direction

By: AP
By: AP
A new report says the economy added 200,000 jobs in December. President Barack Obama says that is a sign the U.S. economy is starting to rebound.


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WASHINGTON (AP) -- President Barack Obama says the U.S. economy is starting to rebound, though some people are still struggling.

A new report says the economy added 200,000 jobs in December. The unemployment rate fell to 8.5 percent, the lowest in nearly three years.

The jobs report sets a positive tone for Obama in this election year.

The president said: "We have made real progress; now is not the time to stop." He called on Congress to extend a payroll tax cut.

Obama spoke during a visit to the new Consumer Financial Protection Bureau. The president used a controversial recess appointment earlier this week to circumvent Republicans in the Senate to install the bureau's director.

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