Friday, June 3, 2011

White House says jobless rate 'unacceptably high'

The White House said the US unemployment rate was unacceptably high while trying to put a brave face on a report that showed employers hired far fewer workers than expected in May.

"There are always bumps on the road to recovery, but the overall trajectory of the economy has improved dramatically over the past two years," top White House economist Austan Goolsbee said in a statement.

"While the private sector has added more than 2.1 million jobs over the past 15 months, the unemployment rate is unacceptably high and faster growth is needed to replace the jobs lost in the downturn."