WH: Jobs report shows healing economy
With a new jobs report out showing the addition of 157,000 new jobs last month, the White House is touting "further evidence" that the U.S. economy is improving, but noted the importance of implementing "the policies needed to build an economy that works for the middle class as we continue to dig our way out of the deep hole that was caused by the severe recession that began in December 2007."
"While more work remains to be done, today's employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression," said Alan Krueger, chairman of the president's council of economic advisers, in a blog post. "Today's report is a reminder of the importance of the need for Congress to act to avoid self-inflicted wounds to the economy."
The jobs report, released monthly by the Bureau of Labor Statistics, revised upward its employment figures from November and December by 127,000 jobs.
The report also showed the unemployment rate ticking up from 7.8 percent to 7.9 percent.
The White House pointed to growth among jobs in retail trade, construction, health care and social assistance, professional and business services, and restaurants and bars.
But Krueger emphasized, as he does every month, that due to the volatility of the monthly employment and unemployment figures, "it is important not to read too much into any one monthly report."
