Obama urges more efforts for global economic competition

17:40, January 26, 2011      

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U.S. President Barack Obama delivers his State of the Union address on Capitol Hill in Washington, January 25, 2011. (Xinhua/AFP Photo)


In his State of the Union address on Capitol Hill Tuesday night, U.S. President Barack Obama called on stepped-up efforts to spur job creation and bolster a sustained economic growth to secure a top spot in global economic competition.

JOBS AT STAKE

"We are poised for progress. Two years after the worst recession most of us have ever known, the stock market has come roaring back. Corporate profits are up. The economy is growing again," Obama said, adding that Americans never measured progress by those benchmarks alone.

"We measure progress by the success of our people. By the jobs they can find and the quality of life those jobs offer," he said, calling it "our generation's Sputnik moment."

U.S. Labor Department figures showed that the U.S. unemployment rate reached 9.4 percent in December 2010. Since December 2009, total payroll employment in the United States had increased by 1.1 million, or an average of 94,000 per month.

However, economists held that this pace was far from being robust enough to reduce the stubbornly high unemployment rate in the near future.

"At stake is whether new jobs and industries take root in this country, or somewhere else. It is whether the hard work and industry of our people is rewarded," Obama said.


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