Today’s unemployment report for January 2013 was released this morning showing that unemployment went up from 7.8 percent to 7.9 percent.
According to Alan B. Krueger, the White House Chairman of the Council of Economic Advisers, this is an improvement although he again warned against looking too much at one month of statistics.
“While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression,” Krueger said in a statement. “It is critical that we pursue the policies needed to build an economy that works for 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.”
Krueger added that it was also important for Congress to “avoid self-inflicted wounds to the economy.”
“The Administration continues to urge Congress to move toward a sustainable Federal budget in a responsible way that balances revenue and spending, and replaces the sequester, while making critical investments in the economy that promote growth and job creation and protect our most vulnerable citizens.” Krueger concluded.