President Obama conceded on Friday that the economic recovery is slowing and that American people feel that their leaders have "let them down."
"Our economy as a whole just isn't producing nearly enough jobs for everybody who's looking," a subdued Obama said from the Rose Garden following reports that show a sharp decline in new job growth and an increase in unemployment.
He acknowledged that Americans are frustrated with the stagnant economy and "expect us to act on every single good idea that's out there."
"[Americans] feel like the rules have changed," he said. "They feel that leaders on Wall Street and in Washington – and believe me, no party is exempt – have let them down."
The U.S. economy added just 18,000 jobs to the payrolls in June – down from 25,000 in May – and the unemployment rate edged up to 9.2 percent, from 9.1 percent.
Obama assigned some blame for the lack of growth to the high cost of gas, economic challenges in Greece and Europe, and uncertainty over the federal budget.
But Obama mainly targeted Congress on the way forward.
"There are bills and trade agreements before Congress right now that could [help grow jobs]," Obama said. "All of them have bipartisan support. All of them could pass immediately. And I urge Congress not to wait."
He cited free trade agreements, patent reform, and bills that would invest more money in infrastructure projects.
"The American people need us to do everything we can to help strengthen this economy and help make sure we are producing more jobs," he said. "I'm ready to roll up my sleeves."