The President's Council of Economic Advisers expects the U.S. to add an average of 95,000 jobs each month this year. In the annual Economic Report of the President, the CEA predicted that unemployment would remain at 10 percent in 2010, dipping down to 9.2 percent in 2011.
The reports comes as President Obama is working with Congress to pass a job-creation bill. The Senate has proposed a $85 billion jobs-stimulus plan that would give businesses that hire unemployed workers this year an exemption from the 6.2 percent Social Security Payroll tax. Businesses that keep those employees for more than a year, would get an additional $1,000 tax credit per employee. In December, the House passed a $174 billion jobs bill that focuses on helping struggling states and investing in infrastructure.