Story by 89 WLS Web Writer Kim Rasmussen
Alan Krueger, Chairman of the council of Economic Advisers, issued a statement on March's employment situation Friday.
Krueger says that while more work remains to be done, Friday's employment report is evidence that the economy is continuing to recover from its worst downturn since the Great Depression.
Friday's report from the Bureau of Labor Statistics shows that private sector businesses added 95,000 jobs last month. The economy has now added private sector jobs every month for 37 straight months, with a total of nearly 6.5 million jobs having been added over that period.
The unemployment rate fell from 7.7 percent in February to 7.6 percent in March, the lowest since December 2008.
Krueger says that it's imporant to bear in mind that the March numbers are the first to look at employment since the beginning of sequestration. The Congressional Budget Office has estimated that the sequester will reduce employent by 750,000 full-time equivalent jobs by the end of the year.
He goes on to say that the Administration is continuing to urge Congress to replace the sequester with balanced deficit reduction, while working put more Americans back to work like rebuilding roads and bridges and promoting American manufacturing.
© Content Copyright 2013 WLS Radio 890AM and WLSAM.com. This material may not be published, broadcast, rewritten or redistributed.