Jobs report: White House adviser says ‘much more remains to be done’ to repair economy

The U.S. economy added 115,000 jobs in April, the slowest pace of growth for any month so far in 2012, according to a Labor Department report released Friday.

Investors seemed to largely consider the data a discouraging, with all the major U.S. stock indexes down more than 1 percent on Friday. Many analysts and economists also took a pessimistic view of the numbers, saying that the job growth wasn’t strong enough to boost the economy.

(Read more: Pace of job growth falls off in the U.S.)

How was the report received by the Obama administration? Alan Krueger, the head of the president’s Council of Economic Advisers, wrote in a blog post that it “provides further evidence that the economy is continuing to heal from the worst economic downturn since the Great Depression, but much more remains to be done to repair the damage caused by the financial crisis and the deep recession.”

He stressed that President Obama has a plan to steer us onto a stronger economic footing said that Obama “will continue to urge Congress to act to do more.”

Krueger also warned that the report shouldn’t be given undue weight given that it’s just a single snapshot of the economy.

“As the Administration stresses every month, the monthly employment and unemployment figures can be volatile, and employment estimates can be subject to substantial revision,” he wrote.

More from The Washington Post:

Economy adds 115,000 jobs in April

Romney calls jobs report “terrible”

Wonkblog: The recovery has been soft

Sarah Halzack is The Washington Post's national retail reporter. She has previously covered the local job market and the business of talent and hiring. She has also served as a Web producer for business and economic news.
Continue reading
Show Comments
Most Read Business



Success! Check your inbox for details.

See all newsletters