December 2nd, 2009
03:50 PM ET
8 months ago

White House summit seeks ideas on creating jobs

White House is set to hold a jobs summit Thursday.
White House is set to hold a jobs summit Thursday.

NEW YORK (CNNMoney.com) - With rising unemployment stymying the president's economic revival plans, the Obama administration is huddling with business leaders, academics and other experts Thursday to find a way to jumpstart hiring.

Some 130 people will gather for the afternoon jobs summit at the White House on the eve of the government's November unemployment report. The nation is expected to have lost another 114,000 jobs, with unemployment remaining at 10.2%, the highest in 26 years, according to an economists' survey.

The employment picture is certainly grim. Nearly 16 million Americans are out of work, one-third of whom have been unemployed for more than six months. There are now six workers competing for every job vacancy.

President Obama and some lawmakers are searching for a way to stem this unrelenting loss of jobs, which is casting doubt on effectiveness of many of his economic programs, from his $787 billion stimulus plan to his $75 billion foreclosure prevention initiative.

"We are going to be bringing together people from all across the country ... to explore how we can jumpstart the hiring that typically lags behind economic growth, but we don't want to wait," Obama said last week.

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Filed under: Economy • Obama administration • President Obama
soundoff (28 Responses)
  1. Bob in Pa

    Here are some ideas.

    Stop wasting our money. No more Earmarks.

    Stop making it so expensive to do business in the US.

    Stop creating new taxes and fees.

    Create a Flat Fair Tax
    Redo the IRS tax code. Everyone should pay something, even if it's $1.

    December 2, 2009 05:21 pm at 5:21 pm |
  2. Randy

    With all those jobs saved or created, I would think he had a grasp on how to move the job market, once again our president shows he is a puppet without a brain. I wonder if filling his cabinet with people from private market place instead of "intellectual elites" cough cough, would have helped.

    787 billion dollars, 23,000 per person. What would a family of 4 or family of 5 do with 100-125 thousand dollars. Can you imagine the job creation if small businesses was given $100,000. All I see is money sent from one bureaucracy to another to be wasted and splurged. Keep your money and let me keep mine.

    December 2, 2009 05:32 pm at 5:32 pm |
  3. Glenn

    Here's a thought....take the 30 Billion that is going to go to fighting the war in Afghanistan and redistribute that to national security. Basically, use the money to 'lock-down' access to the US. Increased international and national airport security, increased safety measures on airplanes and ships, increased border measures. An effort like this would create thousands of jobs.

    December 2, 2009 05:32 pm at 5:32 pm |
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