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White House says jobs report shows ‘recovery gaining traction’

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Politics,Beltway Confidential,Brian Hughes

The White House on Friday framed the decrease of the unemployment rate to 7.7 percent as “evidence that the recovery that began in mid-2009 is gaining traction.”

The February jobs report showed that the U.S. added 236,000 new jobs while the unemployment rate fell to its lowest level in four years. The unemployment rate was 7.9 percent in January.

“While more work remains to be done, today’s employment report provides evidence that the recovery that began in mid-2009 is gaining traction,” Alan Krueger, chairman of Obama’s Council of Economic Advisers, said.

Still, critics pointed out that Obama has yet to live up to his lofty promises on job creation.

“Any job creation is positive news, but the fact is unemployment in America is still way above the levels the Obama White House projected when the trillion-dollar stimulus spending bill was enacted, and the federal government’s ongoing spending binge has resulted in a debt that exceeds the size of our entire economy,” House Speaker John Boehner, R-Ohio, said.

As it has done repeatedly, the White House also cautioned against the impact of  across-the-board spending cuts, trying to insulate itself from future dips in employment.

“It is important to bear in mind that the reference period for today’s surveys was the week of February 10-16 for the household survey and the pay period containing February 12th for the establishment survey, both of which were before sequestration began,” Krueger said.

 

 

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