White House downplays bad jobs report - KWWL - Eastern Iowa Breaking News, Weather, Closings

White House downplays bad jobs report


Top White House economic advisers say the upward tilt over the past six months in new jobs is a better indicator of the nation's employment picture than a gloomy report Friday that warned of slow growth ahead.

Austan Goolsbee, who heads the president's Council of Economic Advisers, says the addition of a million new jobs over the past six months shows "we have improved a long way from when the economy was in rescue mode."

Employers added 54,000 jobs in May, the fewest in eight months, and Friday's report showed that the unemployment rate had inched up to 9.1 percent.

Goolsbee says that the jobs report indicates the economy has "somewhat slowed," but he insists the numbers are "highly variable."

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