White House: Economy solid but uncertainty exists

WASHINGTON (Reuters) - The White House on Friday reiterated its view that the U.S. economy is on a "solid foundation" but acknowledged that the country was going through a period of economic uncertainty.

The White House statement, which included a renewed call on Congress to pass a large economic stimulus package, followed a Labor Department report showing U.S. payrolls shrinking in January for the first time in nearly 4-1/2 years.

"Our economy has a solid foundation, but the U.S. is going through a period of economic uncertainty," the White House said. "Wages have risen, but so have the costs of food, gasoline, and health care. In addition, the downturn in the housing sector and the volatility of the financial markets are leaving many Americans feeling uncertain."

(Reporting by Matt Spetalnick; Editing by Theodore d'Afflisio)