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November 17, 2009

NAACP, AFL-CIO Call on Obama to Do More to Create Jobs
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A coalition of organizations including the NAACP and the AFL-CIO are
calling on President Obama to do more to create jobs. The groups argue
that the $787 billion stimulus program has not gone far enough to fight
unemployment. On Monday, Federal Reserve Chair Ben Bernanke warned that
it will take time before the job market recovers.

Ben Bernanke: “Jobs are likely to remain scarce for some time, keeping
households cautious about their spending. As the recovery becomes
established, however, payrolls should begin to grow again at a pace that
increases over time. Nevertheless, as net gains of roughly 100,000 jobs
per month are needed just to absorb new entrants into the labor force,
the unemployment rate likely will decline only slowly, if the economic
growth remains moderate, as I expect.”



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