WASHINGTON (MNI) – Following is the text of a statement
issued Friday by Alan Krueger, Chairman of the Council of Economic
Advisers:

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 are
building 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. To create more jobs in particularly hard-hit sectors,
President Obama continues to support the elements of the American Jobs
Act that have not yet passed, including further investment in
infrastructure to rebuild our Nation’s ports, roads and highways, and
assistance to State and local governments to prevent layoffs and to
enable them to rehire hundreds of thousands of teachers and first
responders. To build on the progress of the last few years, President
Obama has also proposed an extension of middle class tax cuts that would
prevent the typical middle class family from facing a $2,200 tax
increase next year.

Today’s report from the Bureau of Labor Statistics (BLS) shows that
private sector establishments added 103,000 jobs last month, and overall
non-farm payroll employment rose by 96,000. The economy has now added
private sector jobs for 30 straight months, for a total of 4.6 million
jobs during that period.

The household survey showed that the unemployment rate declined
from 8.3% to 8.1% in August.

Employment rose notably in leisure and hospitality (+34,000),
professional and business services (+28,000), health care and social
assistance (+21,700), and wholesale trade (+7,900). Manufacturing lost
15,000 jobs, including a 7,500 drop in motor vehicles and parts, which
is partly payback for there having been relatively few seasonal auto
plant shutdowns in July. Over the past 30 months, manufacturers have
added more than 500,000 jobs. Government lost 7,000 jobs, as state
government payrolls fell by 6,000 and local governments shed 4,000 jobs.
Since February 2010, State and local governments have lost 504,000 jobs.

As the Administration stresses every month, the monthly employment
and unemployment figures can be volatile, and employment estimates can
be subject to substantial revision. Therefore, it is important not to
read too much into any one monthly report and it is informative to
consider each report in the context of other data that are becoming
available.

** MNI Washington Bureau: 202-371-2121 **

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