"While there are continuing signs the recession is slowing, obviously this is little comfort to those who have lost their jobs," says President Barack Obama.

As President Obama speaks optimistically about the future, the Labor Department announces the Nation's highest unemployment rate in more than 25 years to 9.5%. But even with the rising jobless numbers, economists say it's too soon to declare the president's $800 billion dollar Stimulus Plan as ineffective.

"It's important to remember that unemployment tends to lag recoveries. In the past, after recession is declared over, we'll continue to see unemployment rise for months after that," says Scott Rickard, Economist with MSUB Center For Applied Economic Research.

And while the nation is yet to be freed from the recession, the President and economists say some things are looking up. "I don't think we're really seeing new jobs, as I do believe we're seeing fewer jobs lost than otherwise would have been."

However, new jobs for many, may be in the near future. President Obama believes new opportunities are on the way for millions of people through innovative energy companies.

"The CEO's here, told me that they're looking to hire new people, in some cases, to double or even triple their size over the next few years." Says President Obama.

Beyond jobs, some Stimulus Efforts are being used to prop up the housing market, which saw a slight increase in home sales from April to May. But economists say one of the key components to lifting the nation from its slump is re-igniting consumer confidence.

"I think anything that the government can do to increase our confidence as to what the future will hold, will benefit us," says Rickard, "and many of those things require buying things and economic activity."

But while spending may be the answer, many Americans are finding they have less to spend. Rickard says he believes the positive impact of the Stimulus Plan is only a few months away.