(AP) — The White House says that the August jobs report shows that the nation is continuing to recover, despite more Americans giving up their job search.
Alan Krueger, chairman for the White House Council of Economic Advisers, writes in The White House Blog that it is “important to not read too much into” just one monthly jobs report.
“While there is more work that remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression,” Krueger explained. “It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.”
The unemployment rate fell from 8.3 to 8.1 percent, only because 368,000 people gave up looking for a job.