Obama calls jobless rise "sobering"

WASHINGTON (Reuters) - President Barack Obama said on Friday the jump in the unemployment rate to 10.2 percent in October was a "sobering" figure that underscored the economic challenges ahead.

Obama, speaking after the U.S. jobless rate unexpectedly rose to a 26-1/2-year high, also said he had signed a bill that extended jobless benefits and homebuyer tax credits.