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White House Predicts Slow but Steady Job Recovery

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white houseThe White House is predicting a slow but steady job recovery for 2010. According to President Obama’s chief economist, Christina Romer, the White House anticipates job growth of 95,000 per month for this year but doesn’t expect significant movement in the unemployment percentage.

This prediction mirrors many private forecasts, and the White House may be trying to keep expectations low, erring on the side of caution. The unemployment rate fell last month to 9.7 percent, bringing it down under 10 percent again after overly optimistic reports from the White House asserted it would not reach that high.

Some private economists are issuing forecasts far rosier, predicting job growth of two to three hundred thousand per month for the latter half of 2010, even though November of 2009 is the only month with revised figures showing any job growth at all since the start of the recession. The latest numbers continue to show small declines.

White House Predicts Slow but Steady Job Recovery by
Authored by: Harrison Barnes