Obama calls on US companies to ?in-source? jobs; unemployment falls to 8.5%
In his weekly radio and video address, Obama previewed an event he will hold next week with business executives to highlight the advantages of investing in the United States.
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?We?ll hear from business leaders who are bringing jobs back home and see how we can help other businesses follow their lead,? Obama said.
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The White House forum on ?Insourcing American Jobs? will be held on Wednesday. Executives from more than a dozen companies will attend, including padlock maker Master Lock, furniture company Lincolnton Furniture, software application developer GalaxE Solutions, and chemicals company DuPont.
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The emphasis on keeping US jobs at home is in line with a populist economic message championed by Obama that could play well with union workers, whose support the Democratic president will need to win re-election in November.
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The White House sees an increasing trend of companies deciding to ?insource? jobs and invests in US-based plants and factories, according to a White House official. It wants to encourage more businesses to follow that trend, the official said.
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The practice of US companies moving jobs to foreign countries such as India and China, where labor is cheaper, is a source of concern to many US workers.
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US employment growth accelerated last month and the jobless rate dropped to a near three-year low of 8.5%, offering the strongest evidence yet the economic recovery was gaining steam.
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Nonfarm payrolls increased 200,000 in December, the Labor Department said on Friday. It was the biggest rise in three months and way above economists? expectations for a 150,000 gain.
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All the job gains in December came from the private sector, where payrolls rose 212,000 ? the most in three months. Government employment contracted 12,000. For all of 2011, the private sector added 1.9 million jobs, while government employment fell 280,000.
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?We?re heading in the right direction. And we?re not going to let up,? Obama said.
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With his mind set in re-election Obama targets job creation and taxes
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Source: http://world-countries.net/archives/136644
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