Employers hire more workers than expected

>>> taking a watch of the rose garden at the white house . new economic numbers out this morning, president with his economic team just getting out of a meeting. let’s listen to the president.

>> good morning, everybody. as we head into labor day weekend , i know many people across this country are concerned about what the future holds for themselves, for their families and for the economy, as a whole. as i have stated from the start, there is no quick fix to the worst recession we have experienced since the great depression. it will take years more than any of us like to repair the damage. millions of our neighbors are living with that painfully every day. but i want all americans to remind themselves there are better days ahead, even after this economic crisis , our markets repaint most dynamic in the world. to our workers are still the most productive. we remain the global leader in innovation, in discovery, in entrepreneurship. now, the month i took office, we were losing 750,000 jobs a month. this morning, new figures show the economy produced 67,000 private-sector jobs in august, the eighth consecutive month of job growth . additionally, the numbers for july were revised upward to 107,000. it reflects the steps i have already taken to break the back of this recession. that is why we need to take further steps to create jobs and keep the economy growing, including extending tax cuts for the middle class and investing in the areas of the economy where the potential for job growth is greatest. in the weeks ahead, i will be discussing some of these ideas in more detail but one thing we also have to do right now, one thing we have a responsibility to do right now is to lift up our small businesses , which accounted for over 60% of job losses in the final months of last year. that is why, once again, i am calling on congress to make passing a small business jobs bill its first order of business when it gets back into session later this month. now, here is why this is so important. up until this past may, we were not only waiving fees for entrepreneurs who took out small business administration loans, we were also encouraging more community banks to make loans to responsible business owners. now these steps are part of the reason about 70,000 new small business administration loans have been approved since i took office. and i thank karen mills for the outstanding job she has been doing as administrator of the small business administration . we have also been extending — fighting to extend these loan enhancements with a small business jobs bill it is a bill that will more than double the amount some small business owners can can borrow to grow their companies. it will completely eliminate capital gains taxes on key investments so small business owners can purchase new equipment and expand and will accelerate $55 billion in tax cuts for business, massive and small, that make job creating investments in the next 14 months. and creep keep in mind, it is paid for it will not add one dime to our def of sit. so put simply this piece of legislation is good for workers. it’s good for small business people. it’s good for our economy. and yet, republicans in the senate have blocked this bill, a needless delay that has led small business owners across this country to put off hiring, put off expanding and put off plans that will make our economy stronger. i have repeated since i ran for office, there is no silver bullet that is going to solve all of our economic problems overnight but there are certain steps that we know will make a meaningful difference for small businessmen and women who are the primary drivers of job creation . there is certain measure has we know will advance our recovery. this small business jobs bill is one of them and i am confident if we are willing to put partisanship aside and be the leaders the american people need us to be, if we are willing to do what is next — not what is ideal for the next election but for the next generation, then we are not only going to see america ’s hard- working families and america ’s small businesses bounce back, but will rebuild america ’s economy stronger than it’s been before, okay? thank you very much.

>> [ inaudible ].

>> well, i will be addressing a broader package of ideas next week. we are confident that we are moving in the right direction, but we want to keep this recovery moving stronger and accelerate the job growth that is needed so desperately all across the country.

>> what about a poverty agenda –

>> decision to call this recovery [ inaudible ].

>> i do not regret the notion that we are moving forward but because of the steps we have taken. and i am going to have a press conference next week where after you guys are able to hear where we are at, we will be able to answer some specific questions but the key point i am making right now is that the economy is moving inositive direction. jobs are being created, just not being created as fast as they need to given the big hole we experienced and we will continue to have to work with republicans and democrats to come one ideas that can further accelerate that job growth . i am confident that we can do that. the evidence we have seen during the course of this summer and the course of the last 18 months indicate that we are moving in the right direction. we just have to speed it up? all right? thank you very much.

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Submited at Friday, September 3rd, 2010 at 7:00 pm on Politics by blum
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