White House says employment data show U.S. economy recovering

PanARMENIAN.Net - The White House said on Friday, August 3 that data showing U.S. hiring increased in July showed the economy was continuing to recover, and stressed the jobless rate was "essentially unchanged" despite its rise from 8.2 percent to 8.3 percent.

"Today's employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression," Alan Krueger, chairman of the White House Council of Economic Advisers, said in a statement.

He also noted that although the unemployment rate ticked up, "more precisely, the rate rose from 8.217 percent in June to 8.254 in July." President Barack Obama, who is running for re-election in November, is under pressure to convince voters his policies are helping the economy, Reuters reported.