Posts Tagged ‘jobs

22
Oct
14

Jobs For Veterans. Thanks, President Obama

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PBS: White House Announces Plan To Train 50,000 People, Including Veterans, To Install Solar Panels

The U.S. is planning to train veterans to become solar panel installers in the next six years. The jobs training program is among a host of initiatives the White House says will cut carbon dioxide emissions by more than 300 million tons through 2030, plus save billions of dollars on energy bills for homeowners and businesses. It will launch this fall at one or more military bases and train a total of at least 50,000, including veterans.

The Agriculture Department will also spend nearly $70 million to fund 540 solar and renewable energy projects, focused on rural and farming areas. And the Energy Department will propose stricter efficiency standards for commercial air conditioners, a move the department said could cut emissions more than any other efficiency standard it has issued to date.

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U.S. President Barack Obama greets troops at Camp Victory in Baghdad

20
Oct
14

Jobs? ✔ Economy Growing? ✔ Thank You, President Obama

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Loraine Woellert: Factory Production Rebounds As U.S. Sustains Expansion

Production at American factories rebounded, claims for jobless benefits fell to a 14-year low and households held the most optimistic views in two years, signs the world’s largest economy is overcoming a global slowdown. Manufacturing output climbed 0.5 percent in September, springing back from a 0.5 percent drop the prior month, as factories pushed out more computers, appliances and building-supplies, according to Federal Reserve data issued today in Washington. Other reports showed the momentum is being sustained as the fewest workers since April 2000 filed applications for unemployment insurance last week and more consumers said this month that the economy will get better.

The reports bolster forecasts that the U.S. expansion will survive the weakening in Europe and emerging nations that has roiled global financial markets. American consumer spending, which accounts for almost 70 percent of the economy, is likely to strengthen as employment keeps growing and confidence climbs. Ford Motor Co. is among those automakers that remain upbeat. The second-biggest U.S. carmaker is adding workers at its Dearborn, Michigan, plant as it prepares for its new aluminum-bodied F-150 pickup. The truck is scheduled to arrive in showrooms by the end of the year. “These new jobs will help meet anticipated customer demand,” said Joe Hinrichs, Ford’s president of the Americas, during an Oct. 13 announcement. The company has hired more than 23,000 employees since 2011.

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16
Oct
14

The Deficit Is Falling? You Can Thank President Obama

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Brett Logiurato: The Budget Deficit Just Fell To Its Lowest Level Under Obama

The US budget deficit fell to about $483 billion in fiscal year 2014, almost a $200 billion drop from the previous year and the lowest level of President Barack Obama’s six years in office. The US Treasury Department released the official figures on Wednesday, generally confirming figures released by the nonpartisan Congressional Budget Office last week. It’s the smallest deficit recorded since 2008.

FY2014 was the fifth consecutive year the deficit declined as a percentage of GDP. It is now an estimated 2.8% of GDP, a percentage that puts it below the average of the past 40 years. The Treasury’s figures chalked up the shrinking deficit to increased revenues from taxes and slowed growth in government spending. “It’s really a rise in revenues because of economic growth, because of the policies the president pursued, that we’ve made progress on the deficit,” said Shaun Donovan, the director of the Office of Management and Budget.

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07
Oct
14

America Is Outperforming Other Economies? You Can Thank President Obama

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Bloomberg: American Exceptionalism Thrives Amid Struggling Global Economy

The U.S. is proving to be an oasis of prosperity in the midst of a troubled world economy. Unemployment (USURTOT) dropped to a six-year low of 5.9 percent in September as payrolls rose by a greater-than-forecast 248,000, Other data this week showed U.S. factories had their strongest quarter in more than three years, while exports rose to a record in August. St. Louis-based Macroeconomic Advisers bumped up its estimate of third-quarter growth to 3.3 percent, from 2.8 percent, after government data published yesterday showed the U.S. trade deficit shrank in August to its lowest level in seven months. The solid performance by the U.S. contrasts with what’s happening in much of the rest of the world. The euro area’s economy stagnated in the second quarter and is suffering from the softest inflation in five years, while a consumer-tax increase in Japan triggered its biggest economic contraction since 2009.

“The U.S. is the only large economic bloc experiencing an acceleration of growth, preparing for a tightening of monetary policy and enjoying an appreciating currency.” Still, the U.S. outlook remains “relatively positive,” said Stockton, now a senior fellow at the Peterson Institute for International Economics in Washington. He sees the economy expanding at about a 3 percent annual rate through the end of next year, markedly faster than the 2.2 percent pace it has averaged since the end of the recession in June 2009. Now, the U.S. is breaking away from the rest of the world partly because it has made more progress in working off the debt-driven excesses that helped precipitate the worst recession since the Great Depression. President Barack Obama trumpeted America’s success in a speech Oct. 2 at Northwestern University in Evanston, Illinois. “Our economy isn’t just primed for steadier, more sustained growth,” Obama said. “America is better poised to lead and succeed in the 21st century than any other nation on Earth.”

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06
Oct
14

The American Economy Is Growing? You Can Thank President Obama

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Bloomberg: Corporate U.S. Healthiest In Decades Under Obama With Lower Debt

Steve Wynn, founder of the Wynn Resorts Ltd. (WYNN) casino empire, once called President Barack Obama’s administration “the greatest wet blanket to business and progress and job creation in my lifetime.” Barry Sternlicht, chief executive officer of Starwood Property Trust Inc. (STWD), said Obamacare was driving down wage growth and “affecting spending and the desire to buy houses and everything else.” Corporate and economic statistics almost six years into his administration paint a different picture. Companies in the Standard & Poor’s 500 (SPX) Index are the healthiest in decades, with the lowest net debt to earnings ratio in at least 24 years, $3.59 trillion in cash and marketable securities, and record earnings per share. They are headed this year toward the fastest average monthly job creation since 1999, manufacturing is recovering and the U.S. has returned as an engine for global growth. The recovery, which stands in contrast to weak growth in Europe and Asia, has underpinned an almost threefold gain in the Standard & Poor’s 500 Index since March 2009.

“The U.S. is leading the way — we’re the only major economy with accelerating growth,” said Mark Zandi, chief economist in West Chester, Pennsylvania, for Moody’s Analytics Inc. and a registered Democrat who has advised both the Obama administration and Senator John McCain, a Republican. “Obama deserves some credit for that, but he probably won’t get it.” Barring any major disruptions, the economy is setting up for Obama to leave office on a high note, said Douglas Brinkley, a presidential historian and professor at Rice University in Houston. “History will eventually show that Obama inherited the Great Recession and resuscitated the economy,” Brinkley said in an interview. One example is General Motors Co. (GM), which last week regained its investment-grade debt rating from Standard & Poor’s only five years after the government-backed bankruptcy. Obama’s $49.5 billion bailout of the automaker in exchange for taxpayers owning 61 percent of the company kept it from being liquidated, an outcome that could have crippled parts suppliers and economies throughout most of 50 states, not just the Midwest. In the broader economy, consumers are buying again and homebuilding is increasing. The unemployment rate has declined to 6.1 percent, the lowest since 2008. The economy expanded at a 4.6 percent annualized rate in April through June. Obama’s 2010 health-care program will hold down consumer prices for years to come as millions of Americans obtain coverage, BNP Paribas SA and Credit Suisse Group AG said. The “Medicare cost miracle” resulted at least in part from Obama’s Patient Protection and Affordable Care Act, Nobel-Prize winning economist Paul Krugman wrote in a Sept. 1 New York times article.

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9.26.14

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Steve Benen: Economic Growth Improves To Eight-Year High

The preliminary figures on second-quarter GDP looked good; the revised tally looked better; and the final report looks even better still. The U.S. economy grew at a 4.6% annual pace in the second quarter, matching the best performance since the recession ended in mid-2009. The increase in real gross domestic product was revised up from 4.2%, mainly because of higher exports and business investment, the Commerce Department said Friday. Americans also spent more on health care, but the gain was offset by lower spending on other services. Economists polled by MarketWatch had predicted GDP would be revised up to a seasonally adjusted 4.7%. Consumer spending, the main source of economic activity, was unchanged at 2.5% growth. The biggest gains came in business investment, a good sign for the economy in the months ahead. To provide some additional context, 4.6% growth is tied for the best quarter since the start of the Great Recession.

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03
Oct
14

Rise and Shine

On This Day: President Barack Obama, Vice President Joe Biden and Claire Duncan, daughter of Education Secretary Arne Duncan, watch a tennis match at Camp David, Md., Oct. 3, 2010. The President hosted cabinet members and their families for a Sunday gathering at the retreat (Photo by Pete Souza)

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Today (all times Eastern)

12:05: The President departs the White House

1:0: The First Lady appears on ABC’s ‘The Chew

2:0: The President arrives in Indiana

2:50: Tours Millennium Steel Service; Princeton, Indiana

3:05: Has a conversation with workers, Millennium Steel Service

5:25: Departs Indiana

7:15: Arrives White House

** The First Lady campaigns for Gov Martha Coakley in Boston and Gubernatorial Candidate Mike Michaud in Bangor today **

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New White House photos (and captions) here

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On This Day

Senator Barack Obama walks from his plane on October 3, 2008 after arriving in Philadelphia on his way to a rally in Abington, Pennsylvania

 A woman is overcome with emotion after meeting Senator Obama at a rally on October 3, 2008 in Abington, Pennsylvania

 Senator Barack Obama is photographed October 3, 2008 at the airport in Philadelphia before flying to Chicago

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President Obama congratulates Google Science Fair winners, from left, Naomi Shah, Shree Bose, and Lauren Hodge in the Oval Office, Oct. 3, 2011 (Photo by Pete Souza)

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First Lady Michelle Obama in Reno, October 3, 2012

First Lady Michelle Obama sits with White House Senior Advisor Valerie Jarrett before the Presidential Debate at the University of Denver on October 3, 2012

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 MoooOOOooorning!

02
Oct
14

The President’s Day

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President Barack Obama speaks about the economy at the Kellogg School of Management at Northwestern University in Evanston, Ill.

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Text of remarks here

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President Obama addresses the Congressional Hispanic Caucus Institute Awards Gala at the Washington Convention Center

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Text of the President’s remarks here

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