President Barack Obama wrapped up a jobs summit at the White House today. Obama highlighted trade, clean energy, and tax policy as three areas for possible solutions to the ailing labor market. He also appealed to the private sector to create jobs to improve the U.S. economy.
Tax incentives for job creation are "worthy of further consideration," he said, while adding that the administration is also set on making a big push in the area of green jobs.
Obama, who is facing political pressure to quickly tackle the soaring deficit, stressed that the government's capacity to overcome the nation's jobs challenges is limited. He charged the private sector with developing strategies that could spur hiring and boost economic growth.
Obama said,
"True economic recovery is only going to come from the private sector."
The U.S. unemployment rate hit 10.2% last month, setting a new somber tone in Washington, D.C. Ideas have already been building on Capitol Hill ranging from energy-efficiency programs and infrastructure investment to tax breaks for small businesses and new transportation funding.
Previously:
- Obama Announces Clean Energy Economy Plan
- Van Jones: You Didn't Let ME Down
- Q&A with Job Opportunity Investment Network Director
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