http://www.employmentCrossing.com

With the loss of approximately 533,000 U.S. jobs last month, President-elect Barack Obama has said that now, more so than ever, Americans are in “urgent” need of the economic recovery plan he is proposing.

 

Today, Jared Bernstein, an economist at the Economic Policy Institute in Washington was named as chief economist and economic policy director to Vice President-elect Joe Biden. Bernstein said, that as a result of the high number of jobs lost in recent months, any economic stimulus used to combat the current recession, would need to be larger than originally anticipated.

 

Dana Perino, spokeswoman for the Bush administration, said that the job loss comes as a result of both the housing and credit crisis

 

Obama, who has made job creation a priority, said that the financial crisis and recession offers America the opportunity to alter our economy through alternative-energy technology and investments in infrastructure.

 

In a statement made today, Obama said that “now is the time to respond with urgent resolve to put people back to work and get our economy moving again.”

 

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