December 7th, 2012
10:33 AM ET
Washington (CNN) – The White House continued to make its case for extending tax cuts for middle class Americans Friday, this time aided by the positive November jobs report.
Alan Krueger, Chairman of the Council of Economic Advisers, said the report, which showed the economy added 146,000 jobs in November and unemployment inched down to 7.7%, is further evidence of a positive employment trajectory in the United States. He also encouraged support for President Barack Obama’s plan to ensure tax rates for the majority of Americans do not go up at the end of the year.
October 5th, 2012
05:08 PM ET
Cleveland, Ohio (CNN) – Appearing newly energized amid the release of a better-than-expected jobs report, President Obama touched down in rain-soaked Cleveland, Ohio Monday and warned that a President Romney would bring the country’s economic recovery to a halt.
“This morning, we found out that the unemployment rate has fallen to its lowest level since I took office,” the president told a crowd that local officials say numbered 9,000. “More Americans entered the workforce. More people are getting jobs.”
The stop was the second of the president’s day. Earlier Friday, he rallied 2,000 supporters in Northern Virginia, delivering substantially the same remarks as those in Cleveland.
October 5th, 2012
09:24 AM ET
NEW YORK (CNNMoney) - The unemployment rate tumbled in September as more people returned to the labor force and steady hiring continued.
Employers added 114,000 jobs during the month, down from a revised 142,000 jobs in August, the Labor Department said Friday. But revisions to July and August mean the economy added 86,000 more jobs than originally reported in those months.
Meanwhile, the unemployment rate unexpectedly fell to 7.8% in September, from 8.1% the prior month.
June 26th, 2012
08:05 AM ET
As the presidential election heats up Americans still see the economy as the number one issue. But try to imagine a town with just 1 percent unemployment where they can't build houses fast enough for a surging population, and schools are struggling to hire dozens of new teachers. While much of the U.S. is struggling, Williston, North Dakota, is enjoying a boom most cities can only dream of. It's all thanks to one thing: oil. CNN White House correspondent Dan Lothian reports.
June 1st, 2012
07:08 PM ET
President Obama was in Minneapolis, MN today to tout his latest economic plan- to create a job bank for veterans from Iraq and Afghanistan. But with this morning's disappointing jobs numbers, he didn't dwell on the numbers and took a broader approach to economic recovery. CNN's Brianna Keilar traveled with him to the Honeywell factory which employs dozens of veterans for the president's speech.
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May 31st, 2012
12:47 PM ET
(CNN) - President Obama will focus on jobs Friday continuing to press Congress on his so-called "to do" list. Friday’s item: pushing for the establishment of a Veterans Job Corps. At a Honeywell International plant in a Minneapolis suburb, he will make his case that the country needs to "honor our commitment to returning veterans," according to a White House release.
Friday’s event coincides with the release of the May unemployment numbers. Economists will be closely watching the jobs numbers after two months of slowdown in the sputtering U.S. economy.
Mr. Obama announced his plan to establish a jobs program for veterans from the Iraq and Afghanistan Wars earlier this year. Currently the unemployment rate for veterans is 9.2%, more than a full percentage point higher than the overall unemployment rate which stands at 8.1% for April. The so-called Veterans Jobs Corps would be similar to a 1930's government program, the Civilian Conservation Corps. It is designed to put veterans to work building infrastructure like roads and bridges. FULL POST
March 10th, 2012
10:13 AM ET
(CNN) – Jobs and energy prices dominated weekly addresses by Democrats and Republicans on Saturday, a day after government numbers showed the creation of 227,000 new jobs last month.
Despite the jobs, the unemployment rate remained unchanged, according to the numbers.
With unemployment hovering at 8.3%, Republicans put forth Gov. Jack Dalrymple of North Dakota, whose state boasts the lowest unemployment rate, according to the most recent state level data, from December.
"These are big reasons why North Dakotais doing so well compared to the rest of the nation," he said. "We have created a friendly business climate inNorth Dakota, where taxes and insurance rates are low, the regulatory environment is very reasonable, and we have the most responsive state government anywhere."
He said his state offers major incentives.
"Companies want to expand inNorth Dakota because of the ease of doing business and because of our well educated, well trained work force," Dalrymple said.
His state's economy, he said, is thriving because of both high-tech manufacturing near the state's capital and oil drilling in the northwestern region.
The U.S. could learn from North Dakota’s model and expand domestic oil production, he said, criticizing President Barack Obama for blocking the Keystone oil pipeline, which would run through his state.
"It is now within our reach to become energy independent in North America if we simply develop the resources we already have available in places like the Gulf of Mexico, nonsensitive public lands across America, and in our friendly bordering countries," he said.
The president also spoke on energy, making his case that theU.S."can't just drill our way to lower gas prices – not when we consume 20% of the world's oil."
"The recent spike in gas prices has been another painful reminder of why we have to invest in this technology. As usual, politicians have been rolling out their three-point plans for $2 gas: drill, drill and drill some more,” he said. "Under my Administration, oil production inAmericais at an eight-year high. We've quadrupled the number of operating oil rigs, and opened up millions of acres for drilling." FULL POST
March 9th, 2012
02:57 PM ET
At the Rolls Royce jet engine facility in Prince George, VA on Friday, President Obama announced a new proposal to create a National Manufacturing Innovation Network meant to link industry stakeholders in a national conversation about best manufacturing practices. The cost of the president's new proposal is $1 billion, but the White House is committed to creating a pilot program using appropriated funds from various departments rather than waiting for Congress to approve funds requested in the president’s budget.
"Think of this as a place where companies can share access to cutting edge capabilities," Obama told a crowd of nearly 1,500 about the proposed manufacturing institute. "At the same time students and workers are picking up new skills. They're training on state of the art equipment. They're solving some of the most important challenges facing our manufacturers. You've just got all this brain power and skill and experience coming together in this hub."
According to the White House, the location of the proposed pilot program will be decided based on a competitive process and will cost $45 million. Funding will come primarily from the Departments of Defense, Energy and Commerce with some additional money provided by the National Science Foundation.
Obama's visit came on the same day the Bureau of Labor Statistics announced overall job creation for the month of February had exceeded analysts' expectations. The manufacturing sector alone added 31,000 jobs in February, a feat Obama lauded.
March 6th, 2012
04:29 PM ET
Job creation is expected to be the topic at a closed-door meeting Tuesday night between President Obama and a lobbying group made up of CEOs whose ideas often clash with the administration's.
The Business Roundtable is a group made up of the top leaders of the largest U.S. companies. Chaired by W. James McNerney, Jr., of the Boeing Company (BA, Fortune 500), the group has opposed Obama initiatives ranging from clean air rules to health care reform to Wall Street reform.
Over the past year, Obama has increasingly turned to Big Business to talk about jobs. He regularly meets with a jobs panel chaired by Jeffrey Immelt, CEO of General Electric Co, that includes leaders from the manufacturing and tech industries.
Tuesday's meeting will be Obama's third with the Business Roundtable and comes on the eve of the group's release of list of ideas to spur more job growth and a healthier economy.
Read the complete story at CNNMoney.com.
February 17th, 2012
04:16 PM ET
NEW YORK (CNNMoney) – The United States economy is on the road to recovery, the White House said Friday, with stronger job growth expected this year.
But income inequality, Europe's debt crisis, and continued weakness in the housing market could still pose challenges, according to a report released by President Obama's Council of Economic Advisers.
"While actions taken to prevent a deeper recession and to strengthen the recovery have made a difference, the nation is still recovering from that profound crisis and the problems that led to it," the Economic Report of the President said.
The document, which totals 454 pages, is the administration's blueprint for the economy, which outlines a plan to "recover, rebalance and rebuild." Much like Obama's recent State of the Union address, it focuses heavily on income inequality, and building an America where "everyone gets a fair shot."
Read the entire story at CNNMoney.com