The White House: W. House: 10 Percent Unemployment Within Months
The U.S. unemployment rate is likely rise from already high levels to 10 percent in the next couple of months, a White House spokesman said on Monday.
“I think the president has said this, and I would certainly say this, I think you’re likely to see unemployment at 10 percent within the next couple of months,” White House spokesman Robert Gibbs told reporters.
The U.S. unemployment rate already stands at 9.4 percent, the highest level in about 25 years, and many analysts believe it could continue to climb despite the $787 billion economic stimulus package passed early this year by Congress.
Somebody tell the Senate: Senate Democratic Leader Wants New Guest Worker Program Despite Recession and High Unemployment Rate
Senate Majority Leader Harry Reid (D.-Nev.) says he wants to enact a new guest worker program as part of a comprehensive immigration reform bill that he is vowing to take up in Congress.
Reid announced his intention to enact a new guest worker program last week despite the fact that the economy is in a deep recession and the national unemployment rate has reached 9.4%, a level that has not been seen since 1983 and that is rare in the post-World War II era.
…The most recent data from the Bureau of Economic Analysis indicates that the U.S. economy was still contracting as of March. In the first quarter of this year, the real Gross Domestic Product of the United States dropped at an annual rate of 5.7 percent. In the fourth quarter of last year, it dropped by 6.3%.