In its first reaction to this morning’s March jobs report, the White House says the latest figures are “further evidence that the economy is continuing to recover” but that there’s more work to be done.
“It is critical that we continue to make smart investments that strengthen our economy and lay a foundation for long-term middle class job growth so we can continue to dig our way out of the deep hole that was caused by the severe recession that began at the end of 2007,” Chairman of the Council of Economic Advisers Alan Krueger writes in a White House blog.
The U.S. economy created 120,000 jobs in March and the unemployment rate ticked down to 8.2 percent, the Labor Department announced today.
“Despite adverse shocks that have created headwinds for economic growth, including weak construction investment, the economy has added private sector jobs for 25 straight months, for a total of 4.1 million jobs over that period,” Krueger notes.
As they do every month, the White House stresses “the monthly employment and unemployment figures can be volatile” and that “it is important not to read too much into any one monthly report.”