The White House said in reaction to June’s stagnant jobs report that the 8.2 percent unemployment rate only underscores how important it is to continue President Obama’s policies.
“There are no quick fixes to the problems we face that were more than a decade in the making,” Alan Krueger, chairman of the Council of Economic Advisers, said in a statement. “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.”
Krueger touted private-sector job growth for 28 straight months. “Employment is growing but it is not growing fast enough given the jobs deficit caused by the deep recession,” he said.
The White House also highlighted that the unemployment rate is 0.9 percentage point below its level a year ago.
“As the Administration stresses every month, the monthly employment and unemployment figures can be volatile, and employment estimates can be subject to substantial revision,” Krueger said. “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.”