Over 100000 jobs created but Unemployment rate at over 9%

U.S. added 103,000 jobs in September, the Labor Department said on Friday, giving Barack Obama the first good news on unemployment for months. Although the increase was better than expected by Wall Street economists, the unemployment rate remained above 9%. According to the U.S. Department of Transportation, every $ 1 invested in the infrastructure supports about 35,000 jobs in the U.S.

Hе аƖѕο used thе press conference tο approve рƖοt tο raise taxes on those earning $ 1m οr more  deposition bу thе Democratic boss іn thе Senate, Harry Reid, tο hеƖр pay fοr thе jobs package. As Obama spoke, John Boehner Speaker of the House, told Washington public audience “nothing has disappointed me more than what’s happened over the last five weeks, to watch the president of the United States give up on governing, give up on leading and just spend time campaigning.” “We’re legislating. He’s campaigning. It’s very disappointing,” he said.

“Our economy really needs a kick in the moment,” Obama said. “This is not a game — this is not the time for the usual political gridlock,” he said. “The problems Europe is having today could have a very real effect on our economy at a time when it’s already fragile. But this jobs bill can help guard against another downturn if the situation in Europe gets any worse. It will boost economic growth; it will put people back to work.”

The problems Europe is having today could have a very real effect on our economy at a time when it’s already fragile,” Obama said. “But this jobs bill can help guard against another downturn if the situation in Europe gets any worse. It will boost economic growth; it will put people back to work.”

An independent economist agrees that Congress should quickly adopt at least part of the plan. Mark Zandi, chief economist at Moody Analytics, said lawmakers should consider Obama’s call to expand and enhance the reduction of payroll tax which expires at year’s end.

“Even if Europe is relatively well when we need our own problems, and considering the damage that Europe has already done for the world economy,” said Zandi.

Zandi analysis published last month, argued that the plan would have helped Obama work to avoid recession seconds, adding 2 percentage points to overall economic output, reduce unemployment and the current percentage share of 9.1%.