Unemployment in the United States rose sharply last month and government figures released late Friday show the number of new jobs was at its lowest level in four years. As VOA White House Correspondent Scott Stearns reports, President Bush is considering more tax cuts in an effort to boost the nation's sagging economy.
American unemployment rose to five percent last month, the highest rate since 2005. And new employment statistics released Friday show the U.S. economy added only 18,000 new jobs in December, far fewer than most economists expected.
Following a meeting with his top financial advisers, President Bush said that while the Friday jobs report shows some uncertainty, the U.S. economy remains strong.
"This economy of ours is on a solid foundation, but we can't take economic growth for granted, and there are signs that will cause us to be ever more diligent and make sure good policies come out of Washington," he said.
The president says consumer spending is still strong and core inflation is low, but home values are declining and gasoline and food prices are rising.
Mr. Bush warned opposition Democrats in Congress against raising taxes, saying that is the worst thing lawmakers could do. But he did urge them to pass legislation that could help more Americans refinance their homes.
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