Alan Krueger, a top economics official at the Department of Treasury, will leave his post next month to return to academia, becoming the latest in a string of departures from the Obama administration's economic team.
A spokesman for the Treasury confirmed that Krueger, assistant secretary for economic policy, would return to Princeton University, where he previously served as a professor of economics. The Wall Street Journal first reported the news late Friday.
Krueger has served as the top adviser to Treasury Secretary Timothy Geithner since the administration took power last year.
News of Krueger's departure comes after several other high-profile announcements of Obama economic advisers resigning amid concerns over the sluggish pace of the recovery.
With unemployment remaining stuck at painfully high levels, Democrats are bracing for heavy losses in the upcoming congressional elections.
Peter Orszag, Obama's budget director, and Christina Romer, head of the president's Council of Economic Advisers, resigned earlier this summer. And last month Lawrence Summers, the president's top economist, announced he would return to Harvard University at the end of this year. Secretary Geithner is the only member of Obama's top-tier economic advisers to remain with the administration.
Krueger's published work focuses on the economics of education, unemployment, social insurance and other policy decisions. He previously served as the Department of Labor's chief economist during the Clinton administration.