Republican leaders on Friday said the new July jobs report, which shows 162,000 new jobs and an unemployment rate dropping to 7.4 percent, is insufficient and misleading.

“While the unemployment number dropping looks good on the surface, the details show otherwise," House Majority Leader Eric Cantor (R-Va.) said. "Persistent long-term unemployment, discouraged people leaving the workforce, and millions taking part-time jobs because they have no choice are not signs of a strong recovery. The president’s policies are holding back strong job creation."

Added RNC Chairman Reince Priebus: “Today’s jobs report brings good news for some, but these small gains continue to leave too many families and communities disappointed."

Other Republicans pointed out that people continue to drop out of the labor force, which remains at a low point for the last decade.

They say that a declining labor force participation rate has allowed the unemployment rate to fall deceivingly fast.

"The bottom line: The July report was deceiving," said the conservative American Action Forum, which is run by former Congressional Budget Office director Douglas Holtz-Eakin. "Jobs and unemployment indicators went north, everything else that matters went south. Hardly the signs of a robust economy."

For its part, the White House acknowledged the long path to recovery, but it said the July report is a sign of progress.

"While more work remains to be done, today’s employment report provides further confirmation that the U.S. economy is continuing to recover from the worst downturn since the Great Depression," said Alan Krueger, chairman of the president's Council of Economic Advisers. "It is critical that we remain focused on pursuing policies to speed job creation and expand the middle class, as we continue to dig our way out of the deep hole that was caused by the severe recession that began in December 2007.