Thaindian News

WASHINGTON D.C. (BNO NEWS) – President Barack Obama revealed a report about the monthly job growth numbers, and said that the growth rate is encouraging as 290,000 were created in April, the White House announced on Friday.

“I’m happy to report that we received some very encouraging news. In April, the economy added 290,000 jobs, with the vast majority — approximately 230,000 — coming from the private sector. This is the largest monthly increase in four years,” Obama said.

According to the White House reports the job growth has been increasing in the four months of this year in contrast with 2009 when the United States were losing an average of 750,000 jobs per month.

However, the unemployment rate increased slightly from 9.7 to 9.9 percent. President Obama said that this is a reaction of people quitting their jobs due to the increase in better opportunities in the market.

Despite this encouraging increase there still are millions of American citizens without a job due to the more than 8 million jobs lost during the economic crisis that struck the U.S. last year. The Obama Administration has taken some steps to overcome the adversities caused by the recession such as the Recovery Act funds, which have helped to repair and rebuild the economic security.

“We can see that the difficult and at times unpopular steps that we’ve taken over the past year are making a difference. Productivity is up. The hours people are working are up. Both are signs the company may be hiring more workers in the months to come. We saw the largest increase in manufacturing employment since 1998. And we can see the benefits of our Recovery Act in the strong employment reports from construction and other sectors, where we’ve made key investments in creating and saving jobs.”

Obama also stated that the federal government cannot overcome these adversities alone and needs the support of the private sector. The U.S. provided favorable conditions for the private sector to aid them in creating jobs. The most important support that the Obama Administration offered was tax incentives for businesses which hire new workers, buy new equipment or implement clean energy projects.

The recently passed health reform will benefit 4 million small businesses with health care tax cuts for this year which translates in tens of thousands of savings for these companies. This step is expected to avoid the constant struggling that employers had when deciding to provide either health care for current employees or hiring new workers.

“So this week’s job numbers comes as a relief to Americans who found a job. But it offers obviously little comfort to those who are still out of work. We’re not going to rest until we’ve put this difficult chapter behind us. And I won’t rest until you, and millions of your neighbors caught up in these storms, are able to find a good job and reach a brighter day,” Obama concluded.