The country had just started celebrating the acceleration that the economy has been witnessing lately when President Barack Obama dampened the happiness by forecasting that more people are at a danger of losing their jobs in the coming times. Calling it a "heartbreaking news", the President was quick to assert that despite the good news that America might soon say goodbye to recession, it "does not mean there won't be difficult days ahead".

"While we have a long way to go before we return to prosperity, and there will undoubtedly be ups and downs along the road, it's also true that we've come a long way", Obama said in his weekly radio and Internet address.

Last week, America's economy had seen a sharp rise for the first time in more than a year. In the third quarter of the year, there was a recorded 3.5% growth in the economy. This was the strongest growth that the country had seen in two years. The President said that while the development was a good sign, it is no reason to celebrate as yet. It should just be taken as a welcome sign after so many distressing months.

Despite the rise in economic growth, unemployment is at an all time high. It hit a 26 year high of 9.8% in September. The upcoming October report, it is expected, will take this figure to over 10%.