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Nonetheless, the president told workers at Boeing there are encouraging signs that the economic recovery is accelerating.
“The tide is beginning to turn our way," he said. "Over the last 23 months, businesses have created 3.7 million new jobs. And American manufacturers are hiring for the first time since 1990. And the American auto industry is back. And our economy is getting stronger.”
The president’s remarks followed a week of positive economic news. On Friday, Congress passed a one-year extension of the nation’s payroll tax cut. Mr. Obama said lawmakers did the right thing.
“Congress also agreed to extend unemployment insurance for millions of Americans-maybe some of your family members - who are still out there looking for a job," he said. "So I am going to sign this bill right away when I get back home.”
Also this week, the Labor Department said the number of Americans signing up for unemployment assistance has fallen to a four-year low.
And General Motors announced that its 2011 profit reached a record $7.6 billion, just two years after bankruptcy and a government bailout.
The president’s appearance at Boeing concluded a three-day trip to the West Coast, much of which was spent at fundraising events for his re-election campaign.