| Obama stimulus plan 'could' add or save 3m jobs |
| Saturday, 10 January 2009 | |
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The analysis of Obama's estimated $800 billion plan to lift the country out of a year-long recession was submitted by the chair of his council of economic advisers, Christina Romer, and by Vice President-elect Joe Biden's chief economic adviser, Jared Bernstein. Obama announced the report on his weekly radio and Internet address. He had previously said his American Recovery and Reinvestment Plan would create or save 3 million jobs, but said the analysis from his advisers showed that number would range between 3 million and 4 million. "The jobs we create will be in businesses large and small across a wide range of industries," Obama said. "And they'll be the kind of jobs that don't just put people to work in the short term, but position our economy to lead the world in the long-term." His radio address comes just after official figures showed U.S. employers slashed more than half a million jobs from their payrolls in December, pushing the unemployment rate to 7.2 percent and bringing the total number of jobs lost last year to 2.6 million -- the most since 1945. Obama said his plan would create nearly 500,000 jobs by investing in clean energy, by committing to double the production of alternative energy in the next three years and by improving the energy efficiency of 2 million American homes. "These made-in-America jobs building solar panels and wind turbines, developing fuel-efficient cars and new energy technologies pay well, and they can't be outsourced," he said. |