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Recent Job Growth Not a Fluke: White House Aide

Reuters (03/27/12) Jason Lange

Although Wall Street analysts credit a mild winter and possible seasonal adjustment problems in the data with playing a key part in driving down the unemployment rate since last summer, Alan Krueger, chairman of the White House Council of Economic Advisers, says there is more evidence that a broad-based economic recovery is taking hold. He says parts of the U.S. that are typically less affected by cold weather saw similar declines in the unemployment rate as did the U.S. as a whole. He says he is “skeptical that seasonal factors are skewing our key statistics in a major way.” The Council of Economic Advisers says the economy will create about two million jobs this year.