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US unemployment rate to grow more
[Iran Press TV Latest] The US unemployment rate could grow more as the US economy still suffers recession despite signs of recovery, says Barack Obama's senior economic adviser. Christina Romer, appearing on NBC's Meet the Press on Sunday, said that the jobless rate "could well" rise again. "These things certainly do bounce around. I would anticipate some bumps in the road as we go ahead," she told the TV network, according to AFP. Romer said the US economy could not totally recover from the recession "until all of those people that want to work are back to work". "I'm not going to say the recession is over until the unemployment rate is down to normal levels... where we were before the recession -- certainly in the five percent" range, said the chair of the President's Council of Economic Advisers, adding that Americans from coast-to-coast are still suffering from joblessness. US President Barack Obama, with his hefty stimulus plan of $787 billion, has pledged to create four million jobs. The US jobless rate has experienced many ups and downs since Obama took office in January, standing at 10 percent earlier this month. Posted by: Fred 2009-12-14 |
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