Obama Says U.S. 'Should Be Proud' Of Economic Progress

A new report released on Friday showed an eight-year-low in unemployment.

WASHINGTON (Reuters) - President Barack Obama on Friday said the latest jobs report showing the unemployment rate at an eight-year low of 4.9 percent was a testament to the strength of the American economy.

"We should be proud of the progress we've made," Obama told reporters in the White House briefing room.

But Obama noted "softness" in China, Europe and other economies has presented challenges to U.S. exporters.

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