White Hou Sressing Job Creation
A White Hou economic advisor says there is an "overwhelming" need to do more to spur U.S. job creation and solidify a fragile economic recovery. The comment follows a disappointing monthly unemployment report that showed continuing job loss in the United States.
Less than a year after Pres ident Barack Obama signed into law the biggest economic stimulus package in U.S. history, the head of his Council of Economic Advirs says additional measures are needed.纸杯画
"The n that we need to do more is overwhelming," Christina Romer said on ABC's This Week program. She said key elements of last year's $787-billion stimulus package - like unemployment benefits and aid to state governments - should be extended.
But Romer also called for new measures like tax incentives for business to hire new workers and cash rebates for people who make their homes more energy efficient.
Friday, the U.S. Labor Department reported a net 85,000 job loss in the United States last month, with unemployment holding steady at 10 percent. The numbers were a disappointment to economists who
had held out hope that December might have recorded the first net job gains en in the United States in nearly two years.
"It was somewhat of a tback," said the economic advisor.
Romer added that mild job loss and a stable unemployment rate are an improvement over the situation that existed a year ago, when hundreds of thousands of jobs were being lost each month and the unemployment rate was soaring.
"In the first quarter of 2009 when we [the Obama administration] first came in, we were losing on average 691,000 jobs a month. The job loss are moderating."
But Republicans say it is time for President Obama to make good on his promi to actually improve America's economic conditions, rather than slowing the rate of decline. Republican National Committee Chairman Michael Steele spoke on Fox News Sunday.
"What are we about to celebrate as we go into the one-year anniversary of this [Obama] administration? We have no jobs, no health care [reform], $13-trillion worth of debt, and no n of direction in how we are going to create tho
jobs," he said.
Last month, the Democratically-controlled Hou of Reprentatives pasd a cond stimulus bill aimed at jump-starting U.S. employment. The Senate is expected to consider the measure in coming weeks. Top economic voices in the Obama administration applaud the initiative, but add that, ultimately, America's private ctor must lead the way in job creation and economic expansion.
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The connsus view among economists is that the U.S. unemployment rate will gradually decline in coming months as the economy rebounds from the worst recession since World War II. But some well-known economists are considerably more pessimistic, arguing that unemployment could ri further and the United States could slip back into recession by year's end.
Cold Weather Driving Oil Prices Higher
Investors are eing new opportunities to make money on oil. The price of crude oil ro to its highest level in 15 months on Wednesday amid speculation that a weak dollar and cold weather across many parts of the world will boost energy demand. But despite increasing demand in emerging markets, some say higher inventories and recessionary pullbacks in the West could drive prices lower.
脸上长痘痘的原因Severe winter weather across parts of Europe, Asia and the United States helped push the price of oil above $83 a barrel on Wednesday, before falling below that mark again on Thursday.史记读后感
In the U.S., a 20 percent increa in demand for heating oil, along with higher gasoline prices had some investors speculating about a return to record highs.
With demand continuing to ri in emerging economies such as China and India, energy trader Ray Carbone says oil futures are a good bet.
"To me, we could be at triple digits in the not long period of time and of cour we know that we can go well into the triple digits if the right confluence of events comes about," said Ray Carbone.
乾隆几个儿子But after 10 days of concutive gains, some investors may be having cond thoughts. On Thursday, oil futures fell below $83 a barrel amid concerns about higher than expected surplus and a strengthening U.S. dollar.
Energy analyst Mike Fitzpatrick says a sluggish recovery in the U.S. could also drive prices lower.
"I think that the fundamentals aren't there," said Mike Fitzpatrick. "I mean there
is plenty of supply. Demand in the industrial West remains verely restricted becau of the recession."
Oil prices topped out at $145 a barrel in 2008, driven largely by speculators hedging their bets on a weak U.S. dollar. Analysts don't expect prices to reach similar levels anytime soon but they say oil markets could remain a hot spot for investors - if energy demand increas as the U.S. economy gradually starts to improve.
Global Markets Edge Higher as Dubai's Debt Woes Ea怀五夜云
The government-owned company, Dubai World, has reassured investors abroad by revealing details of its restructuring plans, nearly a week after hinting it may not have enough money to repay its debts.
Dubai World says it will restructure $26 billion in debt, less than half of the nearly $60 billion it owes.
The new scheme will look at options for deleveraging, including ast sales, and will apply to the conglomerate's main property firms, Nakheel and Limitless. Its smaller companies will not be covered.
The head of Middle East rearch at Swiss-bad financial firm UBS, Saud Masud, says it is a step in the right direction.
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"I think, structurally this is a long-term positive with some short-term pain," Masud said.
Asian and European stocks were up, Tuesday, following news of the restructuring. However, it was a different story back in the United Arab Emirates, where the main indexes in Dubai and Abu Dhabi fell shortly after opening.莴苣怎么吃
Both were down by about six percent, after recording even higher loss on Monday.
Masud says the situation has most people in the UAE feeling vulnerable.
"If you walk around and look at what the everyday person is thinking," Masud said. "They're clearly concerned with what restructuring or what type of debt renegotiation, will mean for them and their companies."
Dubai World helped transform Dubai into a regional hub for finance. It nt markets across the planet tumbling, last week, when executives asked creditors for a six-month extension on repaying its debts.
Monday, the emirate's government announced it would not provide the company with a bailout.
Officials say they want to t the record straight that, although Dubai owns Dubai World, the company is independent and not guaranteed by the government.
Dubai World's debts grew from projects initiated during Dubai's property boom, including man-made islands in the shape of palm trees and the world's tallest building.
