WASHINGTON – President Barack Obama
said Thursday that he remains confident the economy will turn around in
the short term and the nation will prosper in the long term despite
another dose of bad unemployment news.
                "And I'm
absolutely confident that we can, at this period of difficulty, prove,
once again, what this nation can achieve when challenged," Obama said
in the Rose Garden after a meeting with executives from energy

                Earlier, the government reported that employers cut a 
larger-than-expected 467,000 jobs in June. The unemployment rate climbed to a 
26-year high of 9.5 percent.
                Obama called that report sobering news but better than the last 
economic quarter and a sign that the recession is slowing.

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