The Hill sums it up well. Obama has a lot on his plate. The economy is the biggest item he just can't swallow.
The executive order that created the council states, “The [jobs council] shall meet regularly” and it “shall terminate 2 years after the date of this order unless extended by the president.”
Last summer, White House press secretary Jay Carney was asked why the council had not met for several months.
“There’s no specific reason, except the president has obviously got a lot on his plate. But he continues to solicit and receive advice from numerous folks outside the administration about the economy, about ideas that he can act on with Congress or administratively to help the economy grow and help create jobs,” Carney said.
Read the rest of the article on The Hill