More upbeat economic news this morning from the White House as the latest jobs report indicates nearly 63 percent of working-age people still consider themselves part of “the workforce,” and a majority of them actually have jobs.
Administration spokesman Jay Carney said the Labor Department report “should buoy the stock market because 74,000 new jobs represents a full 37 percent of expected job creation.” However, he acknowledged “even that impressive number can go higher if we do more to reduce expectations.”
In the official White House news release, President Obama said, “Jobs are a key part of my economic plan, and I’m happy to report that most people have one.”
Carney credited President Obama’s policies for the “economic surge,” but admitted that the president hasn’t done enough yet persuade the Labor Department to reduce the official labor force number so that the unemployment figure can come down even further.
“Reducing the size of the work force is the key to reducing the unemployment number,” Carney said. “But the president can’t be blamed for the dearth of discouraged people dropping out. I think everyone agrees the president is doing all he can to discourage them.”
By Scott Ott.