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Dec 4, 2009 4:09 PM by Associated Press

White House: Obama encouraged by new employment report

The White House says President Barack Obama is pleased that the economy is moving in the right direction but wants to press harder on creating jobs.

The unemployment rate fell to 10 percent in November as employers cut the smallest number of jobs since the recession began.

White House economics adviser Christina Romer called it a sign that stabilization of financial markets may be improving the labor market. Press secretary Robert Gibbs said Friday new employment figures show the economy is making much-needed progress and is "getting the right trend going in hiring."

But he said that even a modest loss in jobs last month was too much. Gibbs told reporters that the nation must "get back to an economy that is not just growing but is creating jobs."

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