WASHINGTON (MNI) – The following are excerpts from a statement by
the chair of President Obama’s Council of Economic Advisers, Austan
Goolsbee Friday on September’s non-farm payrolls report:
Today’s employment report shows that private sector payrolls
increased by 64,000 in September, continuing nine consecutive months of
private sector job growth. This growth provides more evidence that the
economy continues to recover, but we must do more to put the economy on
a path of robust economic growth. At the same time, the rate of job
growth is not as large as needed to bring the unemployment rate down
quickly, as the unemployment rate remained at 9.6%.
…
Given the volatility in the monthly employment and unemployment
data, it is important not to read too much into any one monthly report.
Rather, we must remain focused on our efforts to encourage robust
economic growth that will also bring strong employment growth. The
President continues to work with his economic team and looks forward to
working with Congress when they return to identify measures to speed the
recovery.
** Market News International Washington Bureau: 202-371-2121 **
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