Obama downplays Keystone XL jobs debate
President Obama in Tennessee argued the Keystone XL pipeline would create only a small share of total U.S. jobs, calling it a blip. The State Department estimates up to 42,000 direct and indirect jobs over the project, with about 50 permanent positions along the route after completion.
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Congress heads home for five week recess amid budget battles
Congress exits Washington for a five week recess amid fading achievements and feuding budgets. The House's lone week advance was a bipartisan vote to extend student loan rates, while a major transport and housing bill collapsed due to GOP splits. Senate confirms Samantha Power as UN ambassador as Democrats threaten rules to curb filibuster. Minor leaders indicated further votes to block individual health care penalties and to advance the Stop Government Abuse Act.
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Employers hold steady on hiring as job gains mislead
The July employment picture is expected to show solid growth, yet the net rise in jobs can be deceptive. Fewer layoffs keep unemployment high at 7.6 percent while hiring lags, with economists predicting about 183000 new jobs.
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