Jan. 31 (Bloomberg) -- The U.S. may have gained jobs in January for the second time in three months as the worldâs largest economy began 2010 on firmer footing, economists said before reports this week.
Payrolls probably rose by 13,000 workers this month, according to the median forecast of 50 economists surveyed by Bloomberg News before the Labor Departmentâs Feb. 5 report. The unemployment rate may have held at 10 percent for the third consecutive month.
The fastest pace of economic growth in six years last quarter may give rise to more employment gains as companies restock shelves and invest in new equipment. While the U.S. will probably take years to recover the 7.2 million jobs lost since the recession began at the end of 2007, additional hiring would be welcome news to President Barack Obama, who said job creation will be his top priority in 2010.
âItâs still quite feeble job growth,â said Michelle Meyer, an economist at Barclays Capital Inc. in New York, who forecast a 25,000 gain in payrolls. âWe do think the trend will be toward greater job creation.â
Oracle Corp. and General Electric Co. are among companies looking to hire.
Payrolls fell by 85,000 last month after a 4,000 gain in November that was the first increase in almost two years.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahyNMIouz_uY&pos=1
Obama Announces $33B Hiring Tax Credit
President Obama announced today a proposal to establish a $33 billion tax credit to encourage small businesses to hire more workers and increase wages. The plan is one of several the president is pushing to help bolster employment in a country where one in 10 Americans no longer receives a paycheck.
The announcement comes two days after the president's first State of the Union address, when he said that jobs must be the U.S.'s top priority this year.
The tax credit, the president said, "is a simple, easy-to-understand mechanism that will cut taxes for more than 1 million small businesses."
Obama, who spoke today at the Chesapeake Machine Company's manufacturing plant -- a Baltimore firm employing 40 people -- said the credit will give small businesses "an incentive to hire more people and a little bit of extra money to pay higher wages, to expand work hours or invest in their company."
The president also reiterated his call for the Senate to pass a jobs bill. The House last month approved a $150 billion bill that included some of the job creation efforts touted by the president. Some Republicans, meanwhile, have also introduced proposals for business tax breaks and Obama said that he looked forward to working with them.
"I'm open to any good ideas from Democrats or Republicans," he said.
Critics argue that among Obama's proposals, some are more realistic than others. Below, ABCNews.com takes a look at the president's plans and where, some say, they fall short.
Small Business Tax Credits for Hiring, Raising Wages; Eliminating Capital Gains Taxes
Under the president's proposed tax credit, businesses would receive a $5,000 tax credit for every net new employee that they employ in 2010.
http://abcnews.go.com/Business/Obama/obama-tax-credit-33-billion-hiring-jobs/story?id=9697334
Payrolls probably rose by 13,000 workers this month, according to the median forecast of 50 economists surveyed by Bloomberg News before the Labor Departmentâs Feb. 5 report. The unemployment rate may have held at 10 percent for the third consecutive month.
The fastest pace of economic growth in six years last quarter may give rise to more employment gains as companies restock shelves and invest in new equipment. While the U.S. will probably take years to recover the 7.2 million jobs lost since the recession began at the end of 2007, additional hiring would be welcome news to President Barack Obama, who said job creation will be his top priority in 2010.
âItâs still quite feeble job growth,â said Michelle Meyer, an economist at Barclays Capital Inc. in New York, who forecast a 25,000 gain in payrolls. âWe do think the trend will be toward greater job creation.â
Oracle Corp. and General Electric Co. are among companies looking to hire.
Payrolls fell by 85,000 last month after a 4,000 gain in November that was the first increase in almost two years.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ahyNMIouz_uY&pos=1
Obama Announces $33B Hiring Tax Credit
President Obama announced today a proposal to establish a $33 billion tax credit to encourage small businesses to hire more workers and increase wages. The plan is one of several the president is pushing to help bolster employment in a country where one in 10 Americans no longer receives a paycheck.
The announcement comes two days after the president's first State of the Union address, when he said that jobs must be the U.S.'s top priority this year.
The tax credit, the president said, "is a simple, easy-to-understand mechanism that will cut taxes for more than 1 million small businesses."
Obama, who spoke today at the Chesapeake Machine Company's manufacturing plant -- a Baltimore firm employing 40 people -- said the credit will give small businesses "an incentive to hire more people and a little bit of extra money to pay higher wages, to expand work hours or invest in their company."
The president also reiterated his call for the Senate to pass a jobs bill. The House last month approved a $150 billion bill that included some of the job creation efforts touted by the president. Some Republicans, meanwhile, have also introduced proposals for business tax breaks and Obama said that he looked forward to working with them.
"I'm open to any good ideas from Democrats or Republicans," he said.
Critics argue that among Obama's proposals, some are more realistic than others. Below, ABCNews.com takes a look at the president's plans and where, some say, they fall short.
Small Business Tax Credits for Hiring, Raising Wages; Eliminating Capital Gains Taxes
Under the president's proposed tax credit, businesses would receive a $5,000 tax credit for every net new employee that they employ in 2010.
http://abcnews.go.com/Business/Obama/obama-tax-credit-33-billion-hiring-jobs/story?id=9697334
