Obama: Expect Jobless Rate to Rise Further

President Obama expects unemployment to continue to “tick up” for a few months, Reuters reports. “We have seen some stabilization in the financial markets, and that’s good, because that means that companies can borrow and banks are starting to lend again,” he said today. But “historically, even after you start moving into a recovery, positive growth, hiring, typically lags for some time after that.” (More President Obama stories.)