Obama on unemployment rate: 'That's progress'

AP News
Posted: Mar 04, 2011 4:18 PM
Obama on unemployment rate: 'That's progress'

President Barack Obama says that a slight dip in the unemployment rate to 8.9 percent is a sign of continued progress but that keeping that momentum going is important to the economic recovery.

The government reported Friday that February's jobless rate had fallen to a two-year low, down from 9 percent in January. Obama says the latest numbers show that the economy has added 1.5 million private-sector jobs in the last year and, in his words, "that's progress."

The president commented during an appearance at a Miami high school, where he was discussing his education agenda.

The unemployment rate has been falling for three months, down from 9.8 percent in November.