White House says expects jobless rate to climb
WASHINGTON, July 2 (Reuters) - The U.S. economy will continue to shed jobs for months to come but there are signs the economic stimulus plan is working, the White House said on Thursday.
White House spokesman Robert Gibbs, commenting on the unemployment rate rising to 9.5 percent, said personal incomes had risen and the stimulus plan had created 1,900 road and construction projects.
Gibbs said he expected the unemployment rate to climb to 10 percent in the next two to three months.
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article
India
US
UK
