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The recent past and future of job creation

January 8, 2010 - Mike Maneval

President Barack Obama ended the week Friday by speaking on joblessness and the economy, Politico's Web site reports. There were two highlights to jump out. One pertained to the past, and the other, the future.

The President noted the rate of job losses continues to slow, dropping 90 percent from the first quarter of 2009 to the final quarter of 2009.

Yet, unemployment is still at about 10 percent, and the White House continues to search for ways of reducing the jobless rate. To that end, Obama announced $2.3 billion in tax credits for the creation of domestic clean-energy jobs. The plan involves a projected 17,000 manufacturing jobs in 43 states, according to Politico. And the further development of renewable-energy technologies will enable, in the long run, a reduction in the consumption of finite resources, which otherwise will continue to increase in price and thus impact on the average household's financial security.

The more money spent on dwindling petroleum supplies to meet energy needs, the less households will have to spend on the consumer goods and services that employ their neighboring Americans. And so, while Obama's acknowledgement of slowing job losses is interesting, the potential, for both the near future and distant future, of his clean-energy agenda makes Friday's news important.


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