If we were able to get aggregate jobs back by 10 percent, we’d get jobs back everywhere. “What’s really going on is an aggregate phenomenon. “It’s a little like looking into the weeds to look at sectors,” Larry Mishel, the president of Washington’s Economic Policy Institute, said Wednesday. Yet some economists note that it may not be productive to scrutinize individual industries, and that a macro approach on a large scale could better address the entire system.
#Obama learning on the job full
During Obama’s prime-time speech to Congress next week, he’s expected to lay out his full plan to rein in high jobless numbers in certain sectors. Revising agreements with America’s biggest trading partners, especially Canada, could help drive up American demand quickly. In an effort to bypass Congress, Obama earlier this week ordered all federal agencies to identify infrastructure projects and “take immediate steps to push these projects across the finish line.”Īdministration officials also note that several new programs, including a housing bill to prevent foreclosures, could be in the cards. That message has been heard at the White House. We now have deferred maintenance in so many areas-road bridges, airports, ports-and substantial borrowing authority.”
The biggest and most obvious sector is infrastructure. “The next one will have to be targeted toward job creation more directly. “The first was half tax cuts which predictably didn’t have much effect,” says Robert Reich, a Berkeley economist and former Clinton-administration Secretary of Labor. But some fiscal analysts see the opposite: the reason for the sluggish growth was because the initial project wasn’t big enough. With such data, House Republicans, led by Speaker John Boehner, have been eager to pronounce the stimulus a failure. The rest of the industry-including moving things like trains, water, and energy-almost all lost employees. Over the summer, the height of the construction season, the air transportation sector alone added jobs (about 2,000). Indeed, despite $48.1 billion from the Recovery Act for transportation infrastructure projects, the industry has ticked up only modestly. Speaking in the Rose Garden, he noted to reporters that transportation infrastructure has been particularly hard hit in the recession. Friday will bring new employment numbers from August, which economists say won’t look much better than ongoing trends of anemic growth.īut at the White House on Wednesday, Obama sought to get out ahead of another round of bad news. Observing such a quandary, some economists forecast that the unemployment rate could stay above 8 percent until as long as 2014.
The places where it devoted the most money-education, clean energy, and infrastructure-have remained sluggish. But it poses rhetorical problems for the White House, which staked considerable capital on the 2009 Recovery Act, the $987 billion stimulus package aimed at strategically jump-starting the nation’s hiring, and, in effect, demand for goods. Michelle and I send our thoughts and prayers to Steve’s wife Laurene, his family, and all those who loved him.That’s good news for Washington. F riday, August 30, 2013, the day the feckless Barack Obama. The fee is equal to the salary Obama received as president and twice what former President Bill. president talks through his hardest decisions about America’s role in the world. And there may be no greater tribute to Steve’s success than the fact that much of the world learned of his passing on a device he invented. In 2017, news broke that Obama planned to charge as much as 400,000 per speaking engagement. Because he did, he transformed our lives, redefined entire industries, and achieved one of the rarest feats in human history: he changed the way each of us sees the world. Steve was fond of saying that he lived every day like it was his last. And by turning his talents to storytelling, he has brought joy to millions of children and grownups alike. By making computers personal and putting the internet in our pockets, he made the information revolution not only accessible, but intuitive and fun. By building one of the planet’s most successful companies from his garage, he exemplified the spirit of American ingenuity. Steve was among the greatest of American innovators – brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it. President Barack Obama, who dined with Jobs and other Silicon Valley idea people during the summer, had this statement to share: Michelle and I are saddened to learn of the passing of Steve Jobs. On Wednesday, Steve Jobs died at the age of 56.
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