Persistent joblessness could pose political problems for President Barack Obama, who pushed through an ambitious $787 billion stimulus package in February intended to “save or create” 3.5 million jobs by the end of 2010.
“We still think the overall trend is moving in the right direction,” said Christina Romer, chair of the President’s Council of Economic Advisers. “We’re going from much larger job losses earlier this year. They are moderating. We want them to moderate more.”
Republicans note that job losses have continued despite the stimulus. “Wasteful government spending is not the solution to what ails this economy,” said Indiana Rep. Mike Pence, chairman of the House Republican caucus.
via Jobless rate reaches 9.8 percent in September – Yahoo! Finance.