BREAKING NEWS

White House says jobs data shows US economy recovering

By REUTERS

AUGUST 3, 2012 16:59

WASHINGTON - The White House said on Friday that data showing US 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 US 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." US President Barack Obama, who is running for re-election in November, is under pressure to convince voters his policies are helping the economy.

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