Obama launches middle-class task force

The group will assess the impact of the slowing economy on average Americans; Obama issues pro-labor orders.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

How will the economic stimulus package help your job situation?
  • It won't make any difference
  • It will help me find a job
  • It will help me keep my job

WASHINGTON (CNN) -- Facing new evidence of a darkening economic climate, President Barack Obama on Friday established a new middle-class task force to assess the status of average-income Americans and recommend new ways to strengthen the economy.

The president also signed three executive orders to support organized labor, a key Democratic constituency.

Addressing an audience of business and union leaders in the White House, Obama said it is time for the the government to act "boldly and swiftly" to assist a struggling middle class.

"We can't ... drag our feet or delay much longer. The American people expect us to act, and that's exactly what I intend to do," he said.

The U.S. economy suffered its biggest slowdown in 26 years in the last three months of 2008, according to the government's first reading about the fourth quarter, released Friday.

Gross domestic product, the broadest measure of the nation's economic activity, fell at an annual rate of 3.8% in the quarter, adjusted for inflation.

The latest numbers are "a continuing disaster for America's working families," Obama said. "The recession is deepening ... and the economic crisis is growing."

The president's new Task Force of Middle Class Working Families, led by Vice President Joe Biden, will be composed of a panel of advisers and four Cabinet members. The task force will try to assess the status of the middle class - specifically whether it is growing or shrinking and how well off it is.

It is ultimately expected to issue a series of recommendations on how best to bolster the economic security of average-income Americans.

"A strong middle class equals a strong America," Biden said. It is critical to "raise the living standards of the people who are the backbone of this country."

The task force's first meeting is scheduled to be held on February 27 in Philadelphia. The meeting will focus on "green jobs," employment opportunities tied to renewable energy and environmentally friendly development.

Pro-labor directives

Reaching out to organized labor, the president also issued three executive orders designed to "level the playing field for workers and the unions that represent their interests," Obama said.

"I do not view the labor movement as part of the problem. To me, it's part of the solution," he added. "You cannot have a strong middle class without a strong labor movement."

The first order prevents federal contractors from being reimbursed for expenses that were intended to influence workers' decisions to form unions or engage in collective bargaining.

A second requires federal vendors with more than $100,000 in contracts to post workers' rights under the National Labor Relations Act.

"Federal labor laws encourage collective bargaining, and employees should know their rights to avoid disruption of federal contracts," Obama said.

The third order requires service contractors at federal buildings to offer jobs to qualified current employees when contracts change.

-- CNN's Suzanne Malveaux contributed to this report. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More
Sponsors

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.