Washington: The partial US government shutdown has cut 0.25 percentage point off the fourth-quarter economic growth and cost the country 120,000 jobs in October, the White House has said.
The government shutdown has translated into 0.25 percentage point off the fourth-quarter US economic growth rate, Xinhua quoted Jason Furman, chairman of the White House Council of Economic Advisers, as saying Tuesday.
"We're 120,000 fewer jobs than we otherwise would have had in the month of October," Furman said.
The federal government was forced into the first shutdown in 17 years Oct 1 after Republicans tried to make a bill to tie funding the government on changing President Barack Obama's signature health care law.
Facing an imminent prospect of a debt default, the bitterly-divided Congress ultimately passed a legislation Oct 16 to lift the debt ceiling through Feb 7, and fund the government through Jan 15.
The temporary deal, however, does not resolve the fundamental divide between the Republicans and Democrats on spending and deficits.
"That's just based on the data we have through Oct 12. So, as we look at more of October, those numbers could change and could potentially get worse," Furman said.
"This all just really underscores how unnecessary and harmful the shutdown and the brinkmanship was for the economy, why it's important to avoid repeating it, and instead consider jobs that are adding to growth, not subtracting," he added.
Comments
| Quick linksNews
National
International
Regional
Politics
Education & Career
Business
Science & Technology
Health
Views & Analysis
The Funny Side
© 2012 Awaz Multimedia & Publications. All rights reserved.
Mehmoodur Rehman committee ReportMuslim women group demands ban on 'Triple Talaq in one sitting'
Welcoming the recommendation made by Dr Mehmoodur Rehman Committee in its report, a group of Muslim women activists on Monday said that "Triple Talaq in one sitting" is against the Islamic Shariah law and demanded from the government to bring a legislation to ban this "illegal practice".... More
Also Read: 60% Muslims in Maharashtra live below poverty line: Mehmoodur Rehman committee
Time for Mulayam to replace Akhilesh as UP Chief Minister: Kalbe SadiqTalking to IANS, Kalbe Sadiq, vice-president of the All India Muslim Personal Law Board, said the time had come when Samajwadi Party (SP) chief Mulayam.... More
As soon as Secretary of State John Kerry announces that the Libyan government knew of the dramatic kidnapping, a handful of local militias, who stand in as the new nation's army, are so enraged that they capture .. More
This is not the only case in which the accused were acquitted by a court in Bihar, stunning the families of the victims of caste massacres in Bihar. Last year the Patna High Court acquitted 23 men in the 1996 Bathani tola massacre of 21 people, mostly Dalits and Muslims, by the Ranvir Sena ... More
