Barack Obama

President-elect Barack Obama called latest report of U.S. job losses Friday "a stark reminder of how urgently action is needed" to revive the nation's staggering economy.

He spoke after the Labor Department reported that the U.S. unemployment rate surged to 7.2 percent in December, the highest level in 16 years.

Obama noted that jobs were lost in all 12 months of 2008, and he called it "the single worst year of job losses since World War II."

"Today's jobs report only underscores the need to move with a sense of urgency and common purpose," said Obama.

He urged Congress to give its quick attention to his still-evolving economic stimulus plan, designed to create or save 3 million jobs at a cost of about $800 billion.

Video: President-elect Obama answers questions about his intelligence team and the economy

"This morning we received a stark reminder of how urgently action is needed," Obama said at the beginning of a news conference to formally announce his intelligence team choices.

In a message directed at Congress, Obama said, "For the sake of our economy and our people, this is the time to act without delay."

Congressional leaders have said they will finish action on Obama's economic recovery plan by mid-February, though outlines of the plan are already drawing some criticism, even among the president-elect's fellow Democrats.

Some top Democrats, including Budget Committee Chairman Kent Conrad of North Dakota are complaining openly, contending that many of the incoming administration's proposed tax cuts won't work.

Obama's plan would earmark about 40 percent of the total, or $300 billion, for tax cuts for middle- and low-income Americans.

Meanwhile, Republicans want more tax cuts and have warned against excessive new spending. Both parties have signaled that they intend to place their own stamps on the economic recovery effort.

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