White House: Jobs data shows improving economy

Reuters News
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Posted: Apr 01, 2011 9:59 AM
White House: Jobs data shows improving economy

WASHINGTON (Reuters) - White House economist Austan Goolsbee said on Friday the March jobs reports showed signs of an improving U.S. economy but that surely there will be bumps in the road ahead.

Goolsbee said in a statement that a drop in the unemployment rate in March to 8.8 percent was encouraging and he said he believes a payroll tax cut and business incentives for investment was helping.

"The last two months of private job gains have been the strongest in five years," said Goolsbee, chairman of the President Barack Obama's Council of Economic Advisers.