Obama outlines job plan

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Source: CCTV.com | 11-23-2008 10:12

US President-elect, Barack Obama, has outlined his plan to create 2.5 million jobs in coming years. The plan calls for rebuilding roads and bridges, modernizing schools, and developing alternative energy sources. Obama said these measures are not just for the current economic crisis, but for long-term investments.

U.S. President-elect Barack Obama waves as he leaves his  first press conference following his election victory in  Chicago, in this file photo from November 7, 2008. Barack  Obama has ordered his economic advisers to produce an  economic recovery plan to create 2.5 million new jobs  over the next two years.(Reuters)

Barack Obama says, "I have already directed my economic team to come up with an economic recovery plan, that will mean 2.5 million more jobs by January of 2011, a plan big enough to meet the challenges we face, that I intend to sign soon after taking office. We'll be working out the details in the weeks ahead but it will be a two year nationwide effort to jump start job creation in America and lay the foundation for a strong and growing economy."

A trio of crisis - housing, credit and financial, have badly damaged the US economy. Financial analysts project the country's economic hardships will continue through much of 2009. Figures out this week showed new claims for jobless aid had reached a 16-year high.