December 14, 2009
WASHINGTON (AP) -- President Barack Obama's chief economic advisers say they expect the green shoots of the recovery to blossom into job growth in the spring.
But, White House Council of Economic Advisers Chair Christina Romer says that upward trend could be bumpy as those who have given up looking for work re-enter the labor market.
Romer told NBC's "Meet the Press"she won't consider the recession truly over until unemployment returns to 2007 levels.
White House National Economic Council director Larry Summers, meanwhile, told ABC's "This Week" the recession is statistically over after third quarter GDP growth.
Both agree that putting Americans back to work is the priority in shaking off the deepest economic downturn in decades.
President Barack Obama is calling for using $200 billion unexpectedly available from the bank bailout fund to further stimulate the economy.
He tells CBS's "60 Minutes," he wants a "targeted jobs package that can help to boost" hiring that's already under way.
(Copyright 2009 by The Associated Press. All Rights Reserved.)