Reuters - Video

EDITION: U.S. | U.K. | IN

Business

Krueger: "A lot of work to be done" after weak March jobs data

Friday, April 06, 2012 - 03:26

The chairman of the president's Council of Economic Advisers, Alan Krueger, tells Reuters ''there remains a lot of work to be done'' to revive the economy after the Labor Department reported weaker-than-expected job growth in March. Laura MacInnis reports.

▲ Hide Transcript

View Transcript

Were you hoping for a larger number of what's your masters are. No more in the way I look at these numbers and every month I think the same thing. Jobs numbers are subject to revision and move up and down it's important to put them in the context of all of the other data that are coming in. And if you look over the last three months we just had the strongest quarter. Total job growth since first quarter 2006. If we look at unemployment insurance claims they reached the lowest level in four years if we look at the unemployment rate as you mentioned that eight point 2%. Back -- in the summer it was a nine point 1%. So these are signs that the economy is moving in the right direction but there remains a lot of work to be done. So if you look at a longer term trend and are you confident now that the US economy is well under way in that -- there for you with these numbers. Now I think. What we see in this recovery is that the economy -- very severe problems. That had been building up for decades literally if you look at struggles of middle class families that have been having. Scientific awhile before we solve all of those problems but I think we're seeing progress 25 straight months -- private sector job growth. The economy on a much much better trajectory than it was when the president came to office. And we just have to keep that the policies that keep that. -- doing the things that are helping the economy recover. -- the Federal Reserve Chairman Ben Bernanke is among those who pointed out that -- GDP growth is less than these jobs jobs growth. Husband has been a bit of irregularity there is that's coming that you see is puzzling arm pardoned her parties parties that. Well I think. All economists would look at GDP growth and friends and employment trends and job growth I think what it together what doesn't. And if -- mention all of those numbers are subject to revisions. One of the things which is it also inconsistent with this picture is that gross domestic income. Is another way of measuring total economic activity. Which should equal GDP. Actually was quite a bit stronger than GDP growth at the end of last year. I think when we put all of this together we see that the economy is continuing to expand. Job growth over the past quarter was at a stronger rate that it had been in recent quarters. And we just have to keep working. Make sure that this recovery continues because. The whole. That. What. The president was facing the economy is facing when the president came to office was very deep and we've got to continue digging our way out of it. Despite last christianity. Unemployment rate decrease in part because -- labor force to -- Vatican thinks he is here people are actively looking for jobs. It's the most part well again. These numbers move around quite a bit month -- month particularly with the household survey of the monthly movements are hard to interpret because of the sampling variability. If you look back over the past. Six months and months you know since the summer and Larry came down from nine point 18 point 2%. Labor force participation rate over that period was pretty much the same which indicates that the reason unemployment rate has been coming down over recent months. It's because more people are finding jobs and we gonna continue the things that help more more people find jobs. Think summit. If you out of our -- for -- news of the White House.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Krueger: "A lot of work to be done" after weak March jobs data

Friday, April 06, 2012 - 03:26

Top News »

Retirement »

Back to work- in retirement Back to work- in retirement

Wed, Oct 15, 2014 - (2:09)

Investing 201 »

Bond investors brace for the end of Fed stimulus Bond investors brace for the end of Fed...

Fri, Oct 10, 2014 - (4:03)

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

Money Clip »

Will Apple Pay transform mobile payments? Will Apple Pay transform mobile payments?

Thu, Oct 16, 2014 - (2:45)

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, Oct 20, 2014 - (1:08)

Images of September Images of September

Wed, Oct 01, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)