President Obama To Convene Job Summit in Washington D.C.

President Barack Obama has scheduled a Jobs Summit that will convene in Washington D.C. on December 3rd to discuss critical issues on the job front.

As the U.S economy wraps up the final quarter of 2009, one of the biggest problems it faces is the lack of job creation which has resulted in a 10.2 percent unemployment rate. Job creation has always been considered a lagging indicator during previous recessions, so it’s no surprise that there is a lack of job creation in this recession, which by most measures is the worst since World War II. However without job creation, most economists agree that there will be little improvement in the economy as a whole. President Obama has admitted that though the U.S. economy has seen some small signs of economic recovery, those positive indicators have not translated into job growth. Therefore the goal of the jobs summit is twofold: to create new jobs and to stem the loss of existing jobs. To tackle this enormous task, President Obama has invited a diverse group of attendees to the summit who represent a cross section of the American population. Among the invitees are: CEOs, small business owners, economists, financial experts, and representatives from labor unions and non profit groups. “It's important that we don't make any ill-considered decisions—even with the best intentions—particularly at a time when our resources are so limited. But it's just as important that we are open to any demonstrably good idea to supplement the steps we've already taken to put America back to work. That's what this forum is about," President Obama told reporters recently after announcing the summit. The Jobs Summit comes just a week after the administration attempted to fix serious flaws in the reporting system on the Recovery.gov website. They have also faced sharp criticism at the legitimacy of claims that the Stimulus Bill has saved over one million U.S. jobs.