Obama Administration Predicts Gain Of 95,000 Jobs Each Month

A White House report released today says the U.S. economy will add an average of 95,000 jobs each month this year.

Even those 1.1 million jobs will not be enough to lower the unemployment rate significantly, however. The unemployment rate isn’t expected to hit 6 percent until 2015.

Too, Americans are saving more—4 to 7 percent on average, which is good for individual wallets but doesn’t help drive economic growth.

Since the economy shed 20,000 jobs in January, Obama will have to find not 95,000 jobs next month but 105,400 for each of the remaining eleven months in the year to reach the 1.1 million job growth goal.

(Associated Press)