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Barack Obama

White House buoyed by strong jobs number

WASHINGTON (Reuters) - A top White House economic adviser on Friday said that strong October hiring figures were a hopeful sign for lowering a lofty unemployment rate but cautioned that many more more jobs were needed.

“The building block of getting that rate down is adding jobs and getting this number that’s more than double what was expected is certainly a good sign,” Austin Goolsbee, chairman of the Council of Economic Advisers, told Reuters Insider.

Earlier, the Labor Department said that 151,000 jobs were created last month though the unemployment rate remained at 9.6 percent, the same as in September.

Reporting by Glenn Somerville; Editing by Theodore d’Afflisio

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