White House report bleak on jobs front

Thursday, February 11, 2010
By Kara Rowland

The White House said Thursday that unemployment will remain high for the near future and could climb back above the current 9.7 percent rate even as employers start hiring again.  The administration’s annual report to Congress reaffirms the bleak forecast that accompanied President Obama’s fiscal 2011 budget, as well as its description of the George W. Bush administration’s role in ballooning the federal deficit.  The economy is forecast to grow 3 percent this year while employment should rise to its normal growth of about 100,000 jobs a month, the Council of Economic Advisers wrote in the 462-page report. In an attached letter, Mr. Obama touted his efforts to counter the recession, saying last year’s $787 billion stimulus package helped the nation avert an economic catastrophe, and called for Congress to act on his proposals for a new jobs bill and an overhaul of the financial regulatory system.   read more


One Response to “White House report bleak on jobs front”

  1. Jeremy Maez Says:

    Hi, it looks like your site

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