WASHINGTON, Jan. 6 (Xinhua) -- U.S. President Barack Obama said Friday that U.S. economic recovery was moving "in the right direction," after the latest job market report showed that the nation's unemployment rate edged down to the lowest level since February 2009.
The United States was making progress in its economic recovery, as more private sector jobs were created in 2011 than any year since 2005, Obama said during a visit to the new Consumer Financial Protection Bureau (CFPB) with the agency's newly appointed head Richard Cordray.
"We've now added 3.2 million new private sector jobs over the last 22 months -- nearly 2 million jobs last year alone. So after shedding jobs for more than a decade, our manufacturing sector is also adding jobs two years in a row now," Obama added.
The U.S. unemployment rate edged down to 8.5 percent in December, and non-farm employers added 200,000 jobs last month, reported the Labor Department on Friday, presenting yet another positive economic data on the world's largest economy.
"We have a responsibility to do even more than just try to recover from this devastating recession and financial crisis," Obama added.
The administration endeavored to make sure that everybody could get a fair shot and should play by the same set of rules, Obama stressed.
Earlier this week, Obama bypassed his rival Republican lawmakers to announce the recess appointment of Cordray as the director of the bureau, which was created by the Wall Street Reform and Consumer Protection Act, or the Dodd-Frank Act.
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Editor:Zhang Pengfei |Source: Xinhua
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