Barack Obama to increase stimulus spending and deliver 600,000 jobs

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US President Barack Obama is pledging to create over 600,000 jobs this summer in the US economy after announcing he will increase his multi-billion dollar stimulus package.

The news comes a few days after the US Labor Department revealed that the US economy shed 345,000 jobs in May, taking the unemployment rate up to a 25-year high of 9.4%.

However, the number of jobs lost were far fewer than expected and follow the 539,000 jobs lost in the previous month.

Since the onset of the recession at the end of 2007, the US economy has lost six million jobs.

Mr Obama said: “We have a long way to go on our road to recovery but we are going the right way.”

According to the president, 150,000 jobs have been saved by his stimulus plan and said his increase in federal spending over the next few months will counter job losses, which have arisen from the recession.

The projects the Obama administration pointed to included maintenance projects at military bases, 1,600 state road and airport improvement projects, and money to hire 135,000 school teachers and support staff.

In related news, for the last three quarters the US economy has contracted - the last time this occurred was 1975.

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  1. Sailingwindward says:

    How about a real stimulus package, ending FREE TRADE and bringing JOBS back to the US instead of collaborating with our enemy (China) that is waging economic war against us.

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