February 11, 2010 White House Issues Annual Economic Report of the President: Sees Growth of 95K Jobs/Month in 2010
The White House is predicting an increase of 95,000 jobs on average per month for non-farm payroll employment during 2010, bringing light to the assumption that the country’s labor market will return to stability at a lumbering pace.
The annual Economic Report of the President stated that the battered jobs market is stabilizing, but that more needs to be done to take care of the millions of Americans that are still unable to find work amid the exit of a recession.
The government has taken steps as a part of the $787 billion stimulus package to stem the tide of continuous unemployment issues, but the report said that there is still work to do to get the job market back in working order.
“It will take a prolonged and robust GDP expansion to eliminate the large jobs deficit that had opened up over the course of the recession,” the report stated. “Only when the unemployment rate has returned to normal levels and families are once again secure in their jobs, homes and savings will this terrible recession truly be over.”
With the Economic Report, President Obama issued a statement to Congress calling the jobs lost during the recession a “terrible human tragedy.” Obama continued by imploring the lawmakers to advance legislation to create jobs to help the American people.
“Until jobs are being created to replace those we’ve lost—until America is back at work--my administration will not rest and this recovery will not be finished,” the president said.
The report includes the administration’s plans to bring the economy back to its feet through health care reform, clean-energy initiatives and other measures.
http://www.streetinsider.com/Economic+Data/White+House+Issues+Annual+Economic+Report+of+the+President%3A+Sees+Growth+of+95K+JobsMonth+in+2010/5334070.html
