White House Says Employment Not Growing Fast Enough
(WASHINGTON) -- Reacting to Friday morning’s jobs report, the White House said the economy is continuing to heal, but that “much more remains to be done to repair the damage from the financial crisis.”
“It is critical that we continue the policies that build an economy that works for the middle class and makes us stronger and more secure as we dig our way out of the deep hole that was caused by the severe recession,” Chairman of the Council of Economic Advisers Alan Krueger said in a written statement.
“There are no quick fixes to the problems we face that were more than a decade in the making. President Obama has proposals to create jobs by ending tax breaks for companies to ship jobs overseas and supporting state and local governments to prevent layoffs and rehire hundreds of thousands of teachers,” he said.
The economy added 80,000 jobs in June -- fewer than expected -- and the unemployment rate remained unchanged at 8.2 percent, the Labor Department announced Friday morning.
The news comes as the president is campaigning in Ohio and Pennsylvania, touting his economic agenda and the comeback of the auto industry.
Krueger emphasized that the economy has added private sector jobs for 28 straight months and highlighted growth in the manufacturing sector, which added 11,000 jobs last month.
“Employment is growing but it is not growing fast enough given the jobs deficit caused by the deep recession,” he said.
As it does every month, the White House noted the unemployment figures can be volatile and that “it is important not to read too much into any one monthly report.”
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