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Obama’s jobs council shutting down

President Barack Obama will let his jobs council expire this week without renewing its charter, winding down one source of input from the business community even as unemployment remains stubbornly high.

By Josh Lederman | Updated on January 31, 2013

WASHINGTON (AP) — President Barack Obama will let his jobs council expire this week without renewing its charter, winding down one source of input from the business community even as unemployment remains stubbornly high.

When Obama in January 2011 formed his Council on Jobs and Competitiveness, unemployment was hovering above 9 percent. Two years president later, more than 12 million people in the U.S. are out of work. The unemployment rate has improved to 7.8 percent, but both parties agree that’s still too high.

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