Friday, August 5, 2011
White House: 'We still have a long way to go'
It is encouraging that US job growth accelerated more than expected in July, but the country still has a long way to go to recovery, a top White House adviser said.
"While the better than expected report is welcome news, the unemployment rate remains unacceptably high and faster growth is needed to replace the jobs lost in the downturn," Council of Economic Advisers Chairman Austan Goolsbee said in a statement released by the White House.
Earlier, in an interview on MSNBC, Goolsbee said the U.S. economy "took some heavy blows" in the first half of 2011 and stressed that while the Friday morning report was better than markets expected, "we still have a long way to go."
"While the better than expected report is welcome news, the unemployment rate remains unacceptably high and faster growth is needed to replace the jobs lost in the downturn," Council of Economic Advisers Chairman Austan Goolsbee said in a statement released by the White House.
Earlier, in an interview on MSNBC, Goolsbee said the U.S. economy "took some heavy blows" in the first half of 2011 and stressed that while the Friday morning report was better than markets expected, "we still have a long way to go."
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