Jobs: “One of the Great Challenges That Remains”by Tim Manni
President Obama announced today that a jobs summit will be held at the White House next month in order to recast legislative attention to a sector of the economy that has worsened:
“This is one of the great challenges that remains in our economy, a challenge that my administration is absolutely determined to meet,” [said the president].
The jobs forum in December will include business leaders, small business owners, labor union leaders and others.
Some have questioned the Administration’s dedication to addressing unemployment as other issues — such as health care, the wars in Iraq and Afghanistan, and the financial reform — have occupied lawmakers to a great degree (but with good reason).
The White House has already extended and expanded unemployment benefits, especially to the states hardest-hit by the recession. Under certain budgetary constraints, is there much more the administration can do?
[The president] said he did not want to act rashly, particularly given the soaring budget deficit but would be open to “any demonstrably good idea.”
In what the LA Times called “a high-level forum,” the meeting of minds will brainstorm ideas for new ways to stem job loss.
Our guess is that October’s unemployment report, which showed that the nation’s unemployment rate soared pasted 10% far sooner than many economists had predicted, lit a spark under the administration to develop new ways to help the unemployed beyond increasing benefits.
According to the Labor Department’s report today, initial claims for unemployment benefits fell by 12,000, and continue the yearly trend downward.
What do you hope this job summit can accomplish? Does anyone have any ideas for the president?