Vice President Joe Biden said Friday the White House plans to ramp up the pace of its economic recovery efforts following the announcement of 25-year-high unemployment rate.
Addressing reporters, Biden said the latest jobs report reflecting an unemployment rate of 9.4 percent shows how millions of Americans are still hurting, but he also said there were some signs of hope today.
Despite the progress seen from the $787 billion stimulus passed by congress earlier this year, we still have a long, long way to go on the road to recovery. That's why on Monday, the president and I will be announcing our plans to ramp up Recovery Act implementation over the summer, Biden said.
A lower job-loss rate is not our goal, Biden said. We will not be satisfied until we're adding jobs on a monthly basis while getting Americans into stable jobs with dependable incomes, he said.
The economy has been hit with a job loss number of 6 million since the recession began in December 2007.