Monday, November 2, 2009

Obama warns of more job losses despite economic recovery uptic.

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President Barack Obama warned Monday that more job losses should be expected in the months ahead despite recent signs of economic recovery.

He also called for "new models" of economic growth to help avoid a repeat of what he said was the debt-driven expansion of the past.

"We anticipate that we're going to continue to see some job losses in the weeks and months to come," the president said during a meeting with several of his top economic advisers.

There is "always a lag of several months between businesses starting to make profits again and investing again and them actually rehiring again."

Obama also said, however, he's confident "that having moved the economy on the right track ... there's no reason why we're not going to be able to not only create jobs, but the kind of sustainable economic growth that everybody's
looking for."

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