As it did throughout 2008, the unemployment rate rose in 2009, reaching a peak in October at 10.0% and averaging 10.0% in the fourth quarter. Following a decrease to 9.7% in the first quarter of 2010, the unemployment rate fell to 9.6% in the second quarter, where it remained for the rest of the year. Between February and December 2010, employment rose by 0.8%, which was less than the average of 1.9% experienced during comparable periods in the past four employment recoveries. By November 2012, the unemployment rate fell to 7.7%, decreasing to 6.7% in the last month of 2013. During 2014, the unemployment rate continued to decline, falling to 6.3% in the first quarter. GDP growth returned in the third quarter of 2009, expanding at a rate of 1.6%, followed by a 5.0% increase in the fourth quarter. Growth continued in 2010, posting an increase of 3.7% in the first quarter, with lesser gains throughout the rest of the year. In July 2010, the Federal Reserve noted that economic activity continued to increase, but its pace had slowed, and chairman Ben Bernanke said the economic outlook was "unusually uncertain." Overall, the economy expanded at a rate of 2.9% in 2010.
On November 6, 2012, Obama won 332 electoral votes, exceeding the 270 required for him to be reelected as president. With 51.1% of the popular vote, Obama became the first Democratic president since Franklin D. Roosevelt to win the majority of the popular vote twice. Obama addressed supporters and volunteers at Chicago's McCormick Place after his reelection and said: "Tonight you voted for action, not politics as usual. You elected us to focus on your jobs, not ours. And in the coming weeks and months, I am looking forward to reaching out and working with leaders of both parties."More Info
Obama met Trinity United Church of Christ pastor Jeremiah Wright in October 1987 and became a member of Trinity in 1992. During Obama's first presidential campaign in May 2008, he resigned from Trinity after some of Wright's statements were criticized. Since moving to Washington, D.C., in 2009, the Obama family has attended several Protestant churches, including Shiloh Baptist Church and St. John's Episcopal Church, as well as Evergreen Chapel at Camp David, but the members of the family do not attend church on a regular basis.More Info
Obama intervened in the troubled automotive industry in March 2009, renewing loans for General Motors and Chrysler to continue operations while reorganizing. Over the following months the White House set terms for both firms' bankruptcies, including the sale of Chrysler to Italian automaker Fiat and a reorganization of GM giving the U.S. government a temporary 60% equity stake in the company, with the Canadian government taking a 12% stake. In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. He signed into law the Car Allowance Rebate System, known colloquially as "Cash for Clunkers," which temporarily boosted the economy.More Info
On February 10, 2007, Obama announced his candidacy for President of the United States in front of the Old State Capitol building in Springfield, Illinois. The choice of the announcement site was viewed as symbolic because it was also where Abraham Lincoln delivered his historic "House Divided" speech in 1858. Obama emphasized issues of rapidly ending the Iraq War, increasing energy independence, and reforming the health care system, in a campaign that projected themes of hope and change.More Info
Two years after graduating from Columbia, Obama moved from New York to Chicago when he was hired as director of the Developing Communities Project, a church-based community organization originally comprising eight Catholic parishes in Roseland, West Pullman, and Riverdale on Chicago's South Side. He worked there as a community organizer from June 1985 to May 1988. He helped set up a job training program, a college preparatory tutoring program, and a tenants' rights organization in Altgeld Gardens. Obama also worked as a consultant and instructor for the Gamaliel Foundation, a community organizing institute. In mid-1988, he traveled for the first time in Europe for three weeks and then for five weeks in Kenya, where he met many of his paternal relatives for the first time.More Info
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