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| Thursday July 2, 06:09 PM | |
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White House expects jobless rate to climb
WASHINGTON (Reuters) - The U.S. economy will continue to shed jobs for months to come but there are signs the economic stimulus plan is working, the White House said on Thursday.
White House spokesman Robert Gibbs, commenting on the unemployment rate rising to 9.5 percent, said personal incomes had risen and the stimulus plan had created 1,900 road and construction projects.
Gibbs said he expected the unemployment rate to climb to 10 percent in the next two to three months.
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