11Jan
The US president responded to the latest unemployment stats and has begun to initiate green energy projects which will create thousands of jobs: “Building a robust clean energy sector is how we will create the jobs of the future, jobs that pay well and can’t be outsourced,” Obama said at the White House.
Obama is a green thumb.
Although the terror incident (an attempt to blow up a Delta Airlines plane approaching US soil) in Christmas changed his agenda, US president Barak Obama has returned to focus on American economy and promoted a new initiative to create thousand of jobs in the clean energy sector. This comes after the new government’s report on the unemployment rate, which doubts the financial recovery.
Obama announced on the awarding of $2.3 billion in tax credits to companies that manufacture wind turbines, solar panels, cutting edge batteries and other green technologies. The money will come from last year’s $787 billion stimulus program. With this tax relief he will create 17 thousand green jobs. According to him, more than 180 projects in 40 different states will receive the the tax relief.
“The jobs numbers are reminder that the road to recovery is never straight,” the president said, adding that the overall trend was improving. It was only the fact that many workers went out of the American job market’s statistics the prevented the unemployment rate to cross the 10% line in December, according to economists. If the size of the market wouldn’t have shrunk in 661 thousand workers last month, the unemployment rate would have been 10.4% the experts explained.
Experts believe that the real unemployment rate is higher than official stats, since the economy surprisingly lost 85 thousand jobs in December, but the unemployment rate remained the same. Almost 1.7 million American went out of the labor force between July and December, a 1.1% descent which is the biggest half-annual drop since 1961.
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Tags: Barak Obama, financial bailout package, Financial Crisis, job losses, unemployment, unemployment rate, US economy
01Nov
According to the US administration, apparently the recession is now behind us.
Is The Recession Over?
“The recession in the United States had ended and it happened earlier that what was expected” announced the US Ministry of Commerce on Thursday. The announcement said that the US GDP number was up 3.5% in the third quarter (annual) and that this rise was possible due to the billions invested by president Obama in the economic bailout package that was intended to rescue the market and the financial institutes.
The message also claimed that the other reasons who led to the growth and the re-awakening of the market were the rise in consumption in the private sector, multiple chunky investments in real estate in general and in housing in particular. The ministry also claimed that the government’s continuing encouragement to buy and houses and cars was also an influencing factor.
Nevertheless, the many unemployed US citizens will still have to wait. The job seekers will have to hold their grudge for a little while longer, since the change will only come within a couple of months according to the commerce office. Currently, the unemployment rate is doing just the opposite of decreasing; in fact it hit its peak: 9.8% against 7.6% in January- the month when Bush relinquished command and Obama was sworn in and took on his position.
President Obama took charge when the American economy was in a crisis so big that many claimed it was the “worst crisis America has seen since the 30’s“. In short, if the growth will continue in 2010 and whether more workplaces will be created, it could be Obama’s biggest achievement (a one that he needs) since stepping into office and beginning his actions to improve the economy. Here is something to think about, if I had to rename the title I would call it “Goodbye Recession, Bonjour depression“, the reasons why will be discussed on the next time.
Omer Shachnai
The CEO Game.
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Tags: Barak Obama, Bush, economic bailout package, Financial Crisis, Recession, unemployment rate
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