Jobs Report: Economy Healing, More to Be Done, White House Says
(NEW YORK) -- In its first reaction to Friday morning’s April jobs report, the White House says the latest numbers are further evidence the economy is continuing to heal, but that “much more remains to be done to repair the damage caused by the financial crisis and the deep recession.”
“It is critical that we continue the economic policies that are helping us dig our way out of the deep hole that was caused by the severe recession that began at the end of 2007,” Chairman of the Council of Economic Advisers Alan Krueger writes in a White House blog.
“President Obama has said that prosperity in America has always come from a strong and growing middle class. He has made clear that getting back to where we were is not enough. We need to do more, which is why the President has laid out his blueprint for an American economy that is built to last and will continue to urge Congress to act to do more to grow the economy and create jobs,” he writes.
The economy created 115,000 jobs last month, fewer than the roughly 160,000 expected. The unemployment rate dropped slightly from 8.2 percent in March to 8.1 percent in April.
Krueger notes the economy has added private sector jobs for 26 straight months and highlights manufacturing as a “bright spot” that added 16,000 jobs last month. “To continue the revival in manufacturing jobs and output, the President has proposed tax incentives for manufacturers, enhanced training for the workforce, and measures to create manufacturing hubs and encourage the growing trend of insourcing,” he writes.
As they do every month, the White House stresses that the monthly figures can be “volatile” and cautions “not to read too much into any one monthly report.”
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