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Obama Announces U.S. Jobs Forum With Business Leaders (Update1)

By Kate Andersen Brower

Nov. 12 (Bloomberg) -- President Barack Obama said he will convene business executives and experts for a jobs forum next month at the White House to seek solutions to revive the U.S. economy.

“We’ll gather CEOs and small business owners, economists and financial experts, as well as representatives from labor unions and nonprofit groups to talk about how we can work together to create jobs and get this economy moving again,” Obama said today.

“Hiring often takes time to catch up to economic growth, and given the magnitude of the economic turmoil that we’ve experienced, employers are reluctant to hire,” he said. “We have an obligation to consider every additional responsible step that we can to encourage and accelerate job creation in this country.”

The December jobs forum won’t be a conversation about a second stimulus plan, White House spokeswoman Jen Psaki said. “This is an ongoing discussion about one of our top priorities of the administration, saving and creating jobs,” she said. “Seeking the input of outside experts and keeping all good ideas on the table is an important part of the process.”

Obama’s remarks at the White House came as the government reported that fewer Americans than anticipated filed claims for jobless benefits last week.

Initial unemployment claims fell by 12,000 to 502,000 in the week ended Nov. 7, the lowest level since January, Labor Department figures showed today in Washington. The number of people receiving jobless benefits dropped, as did those getting extended payments.

Job Growth

The president said that, while the report “is a hopeful sign, the economic growth that we have seen has not led to the job growth that we desperately need.”

Obama left shortly after the remarks on a trip to Japan, Singapore, China and South Korea. It will be his first journey to Asia as president.

He said he will meet with leaders to discuss a strategy in which Asian markets “are open to our exports and one in which prosperity around the world is no longer as dependent on American consumption and borrowing but rather more on American innovation and products.”

To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net

Last Updated: November 12, 2009 10:42 EST

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