Thursday, December 3, 2009

Barack Obama vows to tackle jobs challenge head-on

President Barack Obama on Thursday called on corporate America to help tackle the nation's highest unemployment in 26 years and dismissed skeptics who have doubt his efforts to boost employment.
"We cannot hang back and hope for the best when we've see the kinds of job wounded that we've seen over the last year," Obama told business and labor leaders invited to the White House to suggest how to lift employment creation.
"Despite the progress we've made, many businesses are still playful about hiring," he said, acknowledging that although the economy is growing again, the labor market is lagging behind.
Obama is hosting a jobs forum after US unemployment hit a 26-year high of 10.2% in October, sap his popularity and potentially shaping his political future.
Critics dismiss the effort as mainly a public relations exercise. Obama already has said he wants measures that will not add to the country's record budget deficit, efficiently ruling out significantly more public spending on top of a USD 787 billion stimulus package that he signed in February.


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