Obama: Signs worst of recession may be behind us

WASHINGTON (MarketWatch) -- There are signs that the worst of the recession may be over, President Barack Obama said on Friday. Obama spoke after the Labor Department reported that the unemployment rate moderated to 9.4% and the U.S. lost fewer jobs in July than in any month in nearly a year. "We are turning this economy around," Obama said at the White House. He also said there won't be a true recovery as long as Americans are losing their jobs.