US stimulus saved 2 million jobs
The US government’s stimulus packages saved 2 million jobs, according to data released by the White House, but the country’s economic future is still uncertain.
US President Barack Obama signed off on the $US787 billion stimulus package in February 2009, but the jobless rate still hit double digits during the year. He recently called for further measures to quell rising unemployment.
However, the economic outlook remains uncertain, said spokesperson Christina Romer, head of Obama’s Council of Economic Advisers: “Where are we going to be a year from now? Do we see consumer confidence come back? Do we see firms starting to invest again?”
Romer indicated she expected employment to return by the second quarter of this year, and that by the end of the year the stimulus would have saved 3.5 million jobs, but stated that there needed to be “targeted action” to assist further job creation.
The latest US$155 billion jobs package was approved by the House of Representatives last month, and the Senate will preside over new job-related legislation in the next few weeks.
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