President Barack Obama this week is convening a jobs summit to address the urgent need to create jobs for the more than 26 million unemployed or underemployed workers looking for work in an economy in which there are more than six workers for every one job.

An economy in which one in three Americans have either lost his or her job or live in a household with someone who has. The summit, set for Thursday, Dec. 3, will include more than 100 experts and leaders from business, labor, government and community organizations, including AFL-CIO President Richard Trumka and Nobel laureates Joseph Stiglitz and Paul Krugman.

At the summit, Trumka will discuss the five-point plan proposed by the AFL-CIO and our allies to create jobs and boost the economy, which involves:

1. Extending the lifeline for jobless workers through unemployment insurance, food aid and health care assistance.
2. Rebuilding America’s schools, roads and energy systems.
3. Increasing aid to state and local governments to maintain vital services and prevent layoffs.
4. Fund jobs in our communities, focusing on distressed areas.
5. Put the Troubled Asset Relief Program (TARP) funds to work for Main Street by increasing lending from community banks to small and medium-sized businesses