White House: Jobs Report is ‘Welcome News’ But Faster Growth Is Needed

By Eliza

Aug 5, 2011 10:17am

ABC News’ Mary Bruce (@marykbruce) Reports:

The White House said this morning that today’s better-than-expected jobs report is “welcome news” but that the unemployment rate remains “unacceptably high.”

“Faster growth is needed to replace the jobs lost in the downturn,” outgoing Chair of the president’s Council of Economic Advisers Austan Goolsbee said in the administration’s first response to news that unemployment ticked down to 9.1 percent last month.

Goolsbee pointed to the same stalled “bipartisan” measures in Congress that the president has been pushing to spur job growth, including middle class tax cuts, free trade agreements, patent reforms and investments in infrastructure.

“We will continue to work with Congress to build on these efforts to achieve a broader balanced deficit reduction agreement that instills confidence and allows us to live within our means without shortchanging future growth,” Goolsbee said in a written statement.

As they do every month, the White House stressed that “it is important not to read too much into any one monthly report.”

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