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Obama calls job losses "devastating news"
WASHINGTON |
WASHINGTON (Reuters) - President Barack Obama said the job losses in January were "devastating news" on Friday and underscored the need for immediate action to revive the economy.
"It is inexcusable and irresponsible to get bogged down in distraction and delay while millions of Americans are being put out of work," Obama said in prepared remarks for an event to announce an economic advisory panel.
"It is time for Congress to act. It is time to pass an Economic Recovery and Reinvestment Plan to get our economy moving again," he said.
Job losses mounted in January as employers slashed payrolls by 598,000, the most in 34 years, and the unemployment rate jumped to a 16-year high of 7.6 percent.
(Reporting by Tabassum Zakaria; Editing by Patricia Zengerle)
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