White House on jobs report: Economy 'continuing to heal'
November 2nd, 2012
09:49 AM ET
5 years ago

White House on jobs report: Economy 'continuing to heal'

(CNN) - The Chairman of the Council of the Economic Advisers Alan Krueger said in a statement released Friday that October's jobs report "provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by 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," said Krueger.

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He continued in the statement: "Most pressing, President Obama has proposed, and the Senate has passed, an extension of middle class tax cuts that would prevent the typical middle class family from facing a $2,200 tax increase at the beginning of next year. In addition, the President has proposed a plan that will enable responsible homeowners to refinance their mortgage and take advantage of today's historically low interest rates. To create more jobs in particularly hard-hit sectors, President Obama continues to urge Congress to pass elements of the American Jobs Act, 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."

Filed under: 2012 • White House
soundoff (33 Responses)
  1. gt

    heal....you will die of old age before this economy get better under obama....no healing here...

    November 2, 2012 10:31 am at 10:31 am |
  2. rla

    After FOUR YEARS this is not healing it is painfull!!!!

    November 2, 2012 10:31 am at 10:31 am |
  3. Borderless

    Obama burned all his bridges with the House. They are so stubborn they would rather see the country sink into an economic abyss than work with Obama. Obama is so stubborn he will never compromise and will instead blame our economic disaster on the House. Every last person in Washington needs to be replaced. We are just too stupid to do it.

    November 2, 2012 10:44 am at 10:44 am |
  4. Thank God we are moving forward beyond the Bush/Romney/Ryan types of policies

    Thank God we are moving forward beyond the Bush/Romney/Ryan types of policies.

    November 2, 2012 10:49 am at 10:49 am |
  5. Chris

    Lets see its the HOLIDAY Season and unemployment rate is a percentage point worse than when Obama Took Office 4 years ago. 7.8 in 2008 7.9 in 2012 just seasonal jobs for hollidays why job hiring was good

    November 2, 2012 11:02 am at 11:02 am |
  6. Expat American

    It will take the better part of a generation to fix the disaster of the G.W. Bush administration. It won’t happen overnight. Complaining how someone else fixes the damage caused by Bush/Cheney is counterproductive – when a McCain administration would have only perpetuated the damage to unimaginable depths.

    November 2, 2012 11:07 am at 11:07 am |
  7. Patrick in Wisconsin

    Lest you Republicans forget, when Obama took office in late JANUARY 2009 (not 2008), the unemployment rate was 8.3% (not 7.8) and we were losing nearly 800,000 jobs a month. We were bottoming out of the worst economic crisis since the Great Depression. Since then, we have now had 42 months of straight private sector growth since Obama took office. I consider that a success. I've already voted for Obama and he has deserved it.

    November 2, 2012 11:08 am at 11:08 am |
  8. Evergreen

    Inspite of a useless congress, companies that have delayed hiring to get Mitt in office, continued outsourcing, continuing recession in Europe, State and local government layoffs, the U.S. Economy continues to make progress.

    November 2, 2012 11:15 am at 11:15 am |
  9. Thomas

    Mitt can't even carry his home states , Michigan and Massachusetts .

    Not a good recommendation for the job of President .

    November 2, 2012 11:20 am at 11:20 am |
  10. lnd72

    The employment numbers the White House has been pointing to as a positive thing are not even keeping our nose above water. If you look at the current trend, we will be in recession for a lot longer.

    November 2, 2012 11:41 am at 11:41 am |
  11. rla

    Four years is enough!! PLEASE would any of you dems show me a plan over the last four years or better yet a plan for the next four!!!! That's the problem Obama is all speech and no plan!

    November 2, 2012 11:42 am at 11:42 am |
  12. va4865

    Romney will sell this country to THE highest bidder

    November 2, 2012 11:48 am at 11:48 am |
  13. Phil

    So how many of those 171,000 jobs added are PT & seasonal consdering we are going into the holiday season? Healing.... lol thats funny. slowly dieing is more like it

    November 2, 2012 11:51 am at 11:51 am |
  14. al in memphis


    Lets see its the HOLIDAY Season and unemployment rate is a percentage point worse than when Obama Took Office 4 years ago. 7.8 in 2008 7.9 in 2012 just seasonal jobs for hollidays why job hiring was good
    Great facts Chris. I guess you forgot that part about the report where the economy was losing 750,000 a month when he took office. Now based on the reoprt of your factual data, the economy is gaining 180,000 a month.

    Let me see if I can put it terms you would appreciate. In 2008, Chris owe $500,000 and was losing $750,000 a month. In 2012, Chris owe $500,000 and his business was profiting $180,000 a month.
    Is Chris better off than he was in 2008?
    In your world, probably not.

    November 2, 2012 11:53 am at 11:53 am |
  15. Janie

    As children we barely can't even control our thoughts in 4 years. If you have financial issues it take more 2 plus years to begin to get it straight. Multiply that times Millions and counteracting someone elses mess. Without Obama as President theae last 4 years, the US would have been in a Great Depression.

    November 2, 2012 11:53 am at 11:53 am |
  16. FedUpWithRomnesia1%

    We cannot afford reversing the productive course charted by Obama to build a future where ALL Americans have access to health care, retirement, housing, environmentally sound energy, education, modern infrastructure and equal job opportunities on a level playing field.

    We cannot afford to return to the corrupt Republican/"Rob-me" policies that brought our country to the brink of bankruptcy in order to curry favor to those stealing American homes, retirement funds and jobs in order to line their own pockets!

    We the people will elect a government for the people, of the people and by the people to serve ALL Americans – not just the 1%-ers!!!

    November 2, 2012 11:54 am at 11:54 am |
  17. ST

    Anyone who is buying Romney's words: " I have good ideas", must think again. People who have the right thinking never buy words, they buy deeds instead. If at all he has been a man of good ideas, why don't people come forward and declare that they benefited from good ideas he had during his era as CEO of Bain Capital.

    November 2, 2012 11:55 am at 11:55 am |
  18. Abby

    Keep up the hard work, Mr. President. You're moving this country in the right direction-with the American people, with continuous job creation. We will stand behind you this coming Tuesday. Let's vote America to keep our great country growing!!!!

    Obama/Biden 2012!!!

    November 2, 2012 11:58 am at 11:58 am |
  19. Jay

    ET, turn off Fox and read. Obama has introduced countless initiatives to help small business, construction via infrastructure, homeowners, startups. . .all of which the House has refused to even bring up for debate. Where are romney's plans?

    November 2, 2012 12:01 pm at 12:01 pm |
  20. Janie

    Romney's lies and flip flopping scares me. Just imagine New York without FEMA right now...or the 47%.....maybe ending Healthcare for people with pre-exsisting conditions......overturning Roe V. Wade....this election is important! Who do you trust?

    November 2, 2012 12:02 pm at 12:02 pm |
  21. Janie

    Staton Island you have not been forgotten! HELP is coming!

    November 2, 2012 12:06 pm at 12:06 pm |
  22. Peace

    There is no ammo to both sides but just on one side only (Pres. Obama's side). Things are not bad at all. The 0.1 jump of unemployment is explainable. People came in drive to find jobs. More jobs have been created though not enough to meet the demand. Romney is acting like Rush Limbaugh who is attacking Christ Christie by working together with the President to save lives. Any good work done must be appreciated. Thats what civilised people do.

    November 2, 2012 12:07 pm at 12:07 pm |
  23. Jay

    BTW, a bunch of the negative nancies posting seem to not understand that these numbers are seasonally adjusted.

    November 2, 2012 12:08 pm at 12:08 pm |
  24. Janie

    Obama has received endorsements from C. Powell not because of the color of his skin, Christie from New Jersey because he found out he CAN work with him. We need a President that is concerned about the Nation, not just the 1%.

    November 2, 2012 12:11 pm at 12:11 pm |
  25. nuff said

    heal? Sandy just blew out hundreds of thousands of jobs and businesses–stop politicing and LEAD

    November 2, 2012 12:13 pm at 12:13 pm |
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