Obama on economy: We are going to get through this

U.S. President Barack Obama hailed a positive jobs report on Friday but said more job growth is needed and predicted the situation will improve over time.

Commenting on a Labor Department report that 154,000 jobs were created in July and the jobless rate ticked down slightly to 9.1 percent, Obama said, "We've got to do better than that."

"We are going to get through this. Things will get better. and we're going to get there together," he said.

Obama, speaking to American veterans, said the U.S. economy has faced a tumultuous year and noted markets around the globe have had a bumpy ride.

He cited divisive U.S. debt talks, the Japan earthquake and tsunami, revolts in Arab countries and the European debt crisis as factors contributing to slack growth.

When the U.S. Congress returns to work in September, Obama said he wants lawmakers to move quickly on job-creating steps such as extending a payroll tax cut.

To get job growth back on a solid footing "no doubt will take some time," the president said.