US government will not change job stimulus policy

Bombay News.Net
Saturday 6th September, 2008

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The United States government has said it does not see a need for new measures to stimulate the US economy, despite a sharp rise in unemployment.

The latest figures show a rate of 6.1%; the highest since December 2003.

A call for more action had been made by the Democratic Party presidential candidate, Barack Obama but the White House has responded by saying the existing economic stimulus plan is having the impact intended.

A higher-than-expected 84,000 jobs were lost last month.

All work sectors were affected with manufacturing worst hit, shedding 61,000 jobs.

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