Obama: Private, public sectors must create jobs

By BEN FELLER Associated Press Writer

WASHINGTON (AP) - President Barack Obama said Monday the public and private sectors must find more ways to create jobs to continue the nation's climb out of an economic recession.

Obama said the economy has pulled back "from the brink" but still has a long way to go, especially in creating jobs. The president said job losses would continue for weeks and months to come and called for bold, innovative action by his administration, Congress and the private sector to create more good-paying jobs.

Obama made the remarks at the start of a White House meeting in the Roosevelt Room with economic advisers. The session was open to reporters and streamed live on the White House Web site.

He also said the U.S. must break out of a "debilitating gridlock on trade policy," by ending the false choice between a wide-open, free wheeling import policy or fearful, protectionist approach to trade. He called for a more balanced policy of letting the world know America wants to compete and trade - fairly - with anyone. He gave no specifics.