Echoing past economic promises of “green shoots,” “five million green collar jobs,” and “recovery summer,” President Barack Obama said during his Saturday weekly address that 2014 will be a “year of action” on the economy.
“This will be a year of action. I’ll keep doing everything I can to create new jobs and new opportunities for American families – with Congress, on my own, and with everyone willing to play their part,” said Obama.
Obama’s latest economic pivot comes on the heels of a dismal Friday jobs report that shows the U.S. labor force participation rate has contracted to its lowest rate in 36 years.
Still, the president declared the Obama economy is booming. “Across our broader economy, there are signs of progress. Our manufacturing and housing sectors are rebounding. Our energy, technology, and auto sectors are booming. Thanks in part to the reforms in the Affordable Care Act, health care costs now eat up less of our economy,” he said.
On Friday, the government announced that a record 91.8 million Americans are no longer in the labor force.