Obama lays out initiative to relieve joblessness - Spokane, North Idaho News & Weather KHQ.com

Obama lays out initiative to relieve joblessness

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WASHINGTON. - President Barack Obama says staggering job losses mean the country must continue to "spend our way out of this recession" with a round of new incentives for hiring.
     
In a speech at the Brookings Institution, Obama proposed a package intended to stimulate job creation and bring down the country's 10 percent unemployment rate. The measures include more money for infrastructure projects, tax cuts and credit access for small businesses. It also includes rebates to consumers who make their homes more energy efficient.
     
Obama said it is a "false choice" to claim that the government must pick between paying down the deficit and investing in economic growth. He said spending in the short-term to create new jobs will help reduce the deficit over the long-term.

Survey: Few CEOs plan to hire in next 6 months

The CEOs of America's largest companies do not expect employment to significantly improve in the next six months.
     
A quarterly survey from the Business Roundtable found that 19 percent of companies expect to grow their work forces, while 31 percent predict a decrease in the next six months. That's slightly better than the 13 percent who saw increased hiring three months earlier, when 40 percent forecast a decrease.

The CEOs expect the overall U.S. economy to grow by 1.9 percent in 2010. That would mark a slowdown from the 2.8 percent pace in the third quarter of 2009.
     
In more positive news, the number of CEOs expecting to increase capital spending nearly doubled, to 40 from 21 percent. The number expecting sales to increase grew to 68 from 51 percent.

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