Key quote from President Obama:
A lot of businesses were hit hard during this downturn, but they’re starting to hire again. Workers who were laid off, they’re starting to get their jobs back. Companies that were almost forced to close their doors are making plans to expand and invest in new equipment.
And this progress is reflected in the monthly jobs reports that we get each month. We received one today. In May, the economy added 431,000 jobs. ; (Applause.) Now, this is the fifth month in a row that we’ve seen job gains. And while we recognize that our recovery is still in its early stages and that there are going to be ups and downs in the months ahead — things never go completely in a smooth line — this report is a sign that our economy is getting stronger by the day.