For the Thirty-First Time, Obama White House Says 'Don't Read Too Much' Into a Bad Jobs Report
Since November 2009, the Obama White House has struck an amazingly consistent tone when new jobs data comes out. Today, after news broke that unemployment has risen to 8.3%, Obama economic adviser Alan Krueger published this on the official White House web site.
As the Administration stresses every month, the monthly employment and unemployment figures can be volatile, and employment estimates can be subject to substantial revision. Therefore, it is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available.
Click here to see the previous 30 times that the Obama administration has warned us not to read too much into a bad jobs report. Those thirty warnings stretch across the 41 straight months of unemployment sticking above 8%.