Obama finds hope amid 'sobering news'

WASHINGTON, July 2 (UPI) -- U.S. President Barack Obama Thursday called the loss of 467,000 U.S. jobs last month "sobering news," but predicted the economy would continue to rebound.

Obama noted the number of jobs lost has been declining since the previous quarter. But, he added, "Obviously, this is little comfort to Americans who've lost their jobs."

Speaking in the White House Rose Garden, he urged patience sounding a familiar message.

"As I've said from the moment that I walked into the door of this White House, it took years to get into this mess, and it will take more than a few months to turn it around," he said.

Obama's comments came after he met with executives from energy companies, which he said would play a big role in creating jobs.

"As our economy adapts to the challenges of a new century, new ways of producing and saving and distributing energy offer a unique opportunity to create millions of jobs for the American people," he said.

Obama called energy a pillar of a "new foundation for lasting growth … essential both to our recovery and our long-term prosperity."

The president praised House lawmakers for passing energy legislation last week and urged senators to do the same.

Obama said the legislation would not only create millions of jobs, but also reduce U.S. dependence on foreign oil and lessen the consequences of climate change.

Opponents have said the higher taxes to pay for the energy plan and additional restrictions on industry would drive U.S. companies overseas.