Obama Announces National Security Team

PRESIDENT-ELECT BARACK OBAMA: Good morning. Before I discuss today's announcement, I'd like to say a few words about the latest jobs numbers that we received this morning.

Yesterday, I spoke about the need to pass the American Recovery and Reinvestment Plan so that we can jumpstart job creation, invest in our future, and lay a foundation for long-term economic growth. This morning, we received a stark reminder about how urgently action is needed.

Five hundred and twenty-four thousand jobs were lost in December across nearly all major American industries. That means that our economy lost jobs in all 12 months of 2008 and that nearly 2.6 million jobs lost last year amount to the single worst year of job loss since World War II.

The unemployment rate is now well over 7 percent. In addition, we have 3.4 million people who want full-time work but are only able to get part-time work. Clearly, the situation is dire. It is deteriorating and it demands urgent and immediate action.

My staff and I have been engaged in a constructive dialogue with members of Congress over the last few days and weeks about my American Recovery and Reinvestment Plan which will save or create 3 million jobs and make long-term investments in critical areas like energy, health care, and education.

We've made good progress in these consultations. I look forward to working closely with Congress to shape legislation that will work for the American people. But let me be clear, today's job report only underscores the need for us to move with a sense of urgency and common purpose.