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Obama: Jobs growing, but 'we've got to do more'

President Barack Obama says the economy keeps creating jobs, but with many still out of work, "we've got to do more."

The April jobs report out Friday shows a second straight month of sluggish growth, with the economy adding 115,000 jobs, fewer than expected. The pace of job growth is down significantly from earlier this year.

Obama did not mention that. He focused instead on the overall numbers, saying business have created more than 1 million jobs in the past six months alone.

The president commented at a high school outside Washington, where he was promoting a bid to freeze interest rates on federal student loans.

The jobless rate was 8.1 percent last month, a drop from 8.2 percent in March as people stopped looking for work.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.23% up 4.19%  
15 Y Fixed Graph 3.26% dw 3.27%  
30 Y Fixed Jumbo Graph 4.62% dw 4.64%  
5/1 ARM Graph 3.70% up 3.38%  
5/1 Jumbo ARM Graph 4.07% up 4.01%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.29% -- 4.29%  
$50K HELOC Graph 4.04% -- 4.04%  
$30K Loan Graph 5.09% up 5.08%  
$50K Loan Graph 4.52% -- 4.52%  
$75K Loan Graph 4.52% -- 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% -- 2.93%  
36 M Used Graph 3.46% dw 3.47%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 2.99% up 2.98%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% -- 0.35%  
1 yr Graph 0.69% up 0.68%  
5 yr Graph 1.39% -- 1.39%