WH: 8.3% Unemployment Means 'Economy Is Continuing to Recover'
Today’s BLS report shows that unemployment rose to 8.3% even as 150,000 Americans dropped out of the labor force – news the White House blog declares is “further evidence the U.S. economy is continuing to recover.”
Alan Krueger, Chairman of the Council of Economic Advisers, writes in a piece addressing the July employment report by the Bureau of Labor Statistics on the White House blog (emphasis added):
“While there is more work that remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression. It is critical that we continue the policies that build an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.”
Krueger concedes that the unemployment “ticked up” – but, then quotes a BLS commissioner’s claim that this means the unemployment rate is “essentially unchanged”:
“The household survey showed that the unemployment rate ticked up to 8.3% in July (or, more precisely, the rate rose from 8.217% in June to 8.254% in July). Acting BLS Commissioner John Galvin noted in his statement that the unemployment rate was “essentially unchanged” from June to July.”