"Our citizens have chosen a president who represents a triumph of the American story," Bush said in his weekly radio address, "a testament to hard work, optimism and faith in the enduring promise of our Nation."

The president said he had promised President-elect Barack Obama his "complete cooperation as he makes his transition to the White House."

"Ensuring that this transition is seamless is a top priority for the rest of my time in office," Bush said. "Our country faces economic challenges that will not pause to let a new president settle in. This will also be America's first wartime presidential transition in four decades."

Bush said "violent extremists … would like nothing more than to exploit this period of change to harm the American people."

He also talked about the latest unemployment report, which showed that the economy lost 240,000 jobs and the unemployment rate rose to 6.5 percent in October. He reminded listeners of an upcoming international summit on the global financial crisis and urged Congress to approve free trade agreements with Colombia, Panama and South Korea.