President Barack
Obama told a group of Democratic donors in Atlanta that the economy and job
market could falter as a result of the automatic spending cuts that went into
effect March 1.
“Because
of some policies in Washington, like the sequester, growth may end up slowing,”
Obama said at a luncheon for the Democratic Senatorial Campaign Committee. “We
may see once again the job market stall.”
The
president was in Atlanta to give the commencement address at Morehouse College
and he told the donors that while he was energized by the spirit of the graduates
“they are entering into a job market that is still challenging.”
Earlier,
at the commencement ceremony, Obama gave the labor market a more positive
rendering. He told the graduates “you’re graduating into a job market that’s
improving.”
American employers
added more workers than forecast in April, sending the unemployment rate down
to a four-year low of 7.5 percent. More Americans than projected filed claims
for jobless benefits last week and manufacturing in the Philadelphia region
unexpectedly shrank in May, signs that a slowdown in growth is rippling through
the U.S. economy.
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