December 22, 2008

Obama ups jobs goal to 3 million on bad economic news

WASHINGTON (CNN) -- President-elect Barack Obama has decided to increase his goal for creating new jobs after receiving economic forecasts that suggest the economy is in worse shape than had been predicted, two Democratic officials told CNN.

The officials said Obama is increasing his goal from 2.5 million to 3 million jobs over the next two years after receiving projections early this week that suggest the recession will be deeper than expected.

The projections showed that unless significant action is taken, the nation is likely to lose up to 4 million jobs over the next year and that the unemployment rate will probably rise above 9 percent, a transition aide told CNN.

According to CNN, President Barack Obama increased the goal of jobs up to 3 million to catch up on the continuing recession of the economy. It was very timely because as you can see it was just a few days ago that I posted about the concern of To Create Job or Save Job? What's the ROI?

I was wondering if Obama's goal is to create new 3 million jobs for people or save 3 existing million jobs? They might still undergoing a study about that but I believe it should be addressed very soon.

No comments: