facebook
twitter
rss
account
search
search
 

White House predicts 2M new jobs in 2012

Feb. 18, 2012 at 9:09 AM   |   Comments

WASHINGTON, Feb. 18 (UPI) -- The annual White House economic forecast sent to Congress says the U.S. employment picture will improve slightly in 2012.

In 2012, the economy is expected to add 2 million jobs, which is an average of 167,000 per month, the White House said.

In 2011, the economy gained 1.8 million jobs, an average of 150,000 jobs per month.

The Hill newspaper reported Saturday that the White House report says some of the figures are "outdated," such as the projection of 3 percent gross domestic product growth for 2012, which was predicted last fall.

The White House has also not revised its forecast of the unemployment rate, which it said on Nov. 15 would drop from an average of 8.9 percent in 2012 to an average of 8.6 percent in 2013.

The report said the White House may update its unemployment figures in mid-year.

The unemployment rate, which is revised on the first Friday of each month, fell from 8.5 percent in December to 8.3 percent in January.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Navy tests MQ-8C unmanned helos Navy tests MQ-8C unmanned helos
2
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
3
Harris selected for geospatial data products Harris selected for geospatial data products
4
Sweden plans to replace its Defense and Security Export Agency Sweden plans to replace its Defense and Security Export Agency
5
Throwback Thursday: Facebook launches old-school 'Rooms' app Throwback Thursday: Facebook launches old-school 'Rooms' app
Trending News
Around the Web
x
Feedback