Word: aid
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Back in early January, when Barack Obama was still President-elect, two of his chief economic advisers - leading proponents of a stimulus bill - predicted that the passage of a large economic-aid package would boost the economy and keep the unemployment rate below 8%. It hasn't quite worked out that way. Last month, the jobless rate in the U.S. hit 9.5%, the highest level it has reached since 1983. (See 10 ways your job will change...
...creating opportunities for workers in health care, education and energy. The report reiterates that the economists believe the stimulus plan will create 3.5 million jobs by the end of 2010. "The various forms of fiscal stimulus are expected to provide powerful upward pressure on aggregate demand and to aid recovery," Romer's group says. (See 10 perfect jobs for the recession - and after...
...prefer business over aid? I do not think aid is sustainable in the long run. We have good friends that come to our aid in the short term, but they'll move on. Only the private sector is sustainable. There was a time when we were an exporter of coffee, cocoa, rubber and palm oil; in minerals diamonds, gold and iron ore. Our task now is to reactivate all of those sectors [while looking at] new areas [like] our offshore oil potential...
...July 20 a delegation of New Fabris staffers will go to Paris and meet with French Industry Minister Christian Estrosi, who Eyermann says will be asked "to put pressure on [Peugeot maker] PSA and Renault." With both companies having received most of the $8 billion in state aid the government distributed to French automotive groups to weather the recession, Eyermann argues they should now help out industry workers who are losing jobs to the slowdown...
...recent in a series of escalating acts of intimidation by French workers facing layoffs. Last April, French fishermen furious over the effect European Union fish quotas were having on their bottom line blocked traffic in and out of North Atlantic ports for two days until they were promised state aid. Recently, France has witnessed a series of so-called bossnappings, in which CEOs of firms are held hostage by employees until job-elimination numbers are reduced or severance payments increased. (Read "Why the French Love to Strike...