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.
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