President Obama’s top economic aide described the July jobs report — which shows a small increase in the national unemployment rate — “further evidence” that the economy is recovering.
“While there is more work that remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression,” Alen Krueger, chair of the White House Council of Economic Advisers, wrote.
He made the White House’s oft-repeated caveat that “it is important not to read too much into any one monthly report,” but offered today’s numbers as a ratification of Obama’s policies.
“It is critical that we continue the policies that build an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007,” Krueger said.
Krueger noted that non-farm payroll increased by 163,000 jobs. But the Labor Department figures showed that 195,000 fewer Americans had jobs this month as opposed to last month.