Obama: Unemployment Will Reach 10%

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In an interview with Bloomberg News, President Obama warned that the unemployment rate will likely reach 10% this year, before the economy turns back around.

“What you’ve seen is that the pace of job loss has slowed,” said Obama. “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, just to flatten this out.”

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