Obama hails positive jobs dataMarch 10th, 2012 - 3:49 am ICT by IANS
Washington, March 10 (IANS) US President Barack Obama Friday hailed the positive jobs data and said the nation must keep its “economic engine churning”.
He was speaking at a Rolls Royce plant in Virginia, hours after the release of figures showing about 227,000 jobs were created last month, Xinhua reported.
The US unemployment rate firmed at 8.3 percent with better-than-expected payroll increase in February, a positive sign for the improving the labour market.
Obama highlighted the more than 400,000 manufacturing jobs added during the past two years, and reiterated his commitment to an economy built to last.
“That starts with the manufacturing,” he stressed.
Obama proposed a $1-billion plan to create a national network of 15 regional institutes for manufacturing innovation.
The institutes will bring together industry, universities, community colleges and federal agencies to accelerate innovation by investing in industry-relevant manufacturing technologies.
The president also announced the launch of a pilot institute with an initial federal investment of $45 million.
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Tags: 1 billion, barack obama, community colleges, economic engine, economy, federal investment, innovation, labour market, launch, manufacturing jobs, manufacturing technologies, payroll increase, pilot, regional institutes, rolls royce, universities, us unemployment rate, xinhua