President Barack Obama declared Friday that the US economy was showing 'signs of real strength' in an upbeat assessment after new data showed the unemployment rate dipped to 8.8 percent. "Our economy is showing signs of real strength," Obama said in remarks at a UPS facility in the Washington suburbs, but warned a budget row with Republicans could harm the rebound if it results in a government shutdown.
"The unemployment rate has now fallen a full point in the last four months, the last time that happened was during the recovery in 1984," he said. "Now, despite that good news, everybody here knows we have a lot more work to do. There are still millions of Americans out there who are looking for a job that pays the bills," Obama said.
The president noted that news coverage had recently been dominated by Japan's agony after an earthquake and tsunami and fast-moving revolts in the Middle East. "But you should know that keeping the economy going and making sure jobs are available is the first thing I think about when I wake up in the morning and the last thing I think about before I go to bed at night," Obama said.