Unemployment Rate at 7.8%, W.H. Says We’re Healing

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-- backed the morning's job numbers Jordan becoming an analyst Paul Conway former chief of staff for the labour department under secretary Elaine -- in the second Bush Administration -- always a pleasure welcome back saying thank you very much happy new year like researchers say bonds sure -- -- -- other -- that yes yes -- it yum loading Greek.

But seriously -- I -- is a basic question.

Have we now in America restored.

All of the jobs that we lost in the Great Recession.

Now as a matter of fact just this morning there -- several -- reports during that hit eighteen month period of recession that technically ended and June of 2009.

We lost eight point eight million jobs in America only four point six million of those jobs have been recovered.

And what you're seeing now with these numbers of new jobs created every month about a 15053000.

On average.

Here that is just barely enough to incorporate new workers into the workforce it's not making a serious debt and those who are unemployed.

Or we're gonna walk through that -- poll last dramatic.

Now -- I -- to go back to those numbers just for a second them right before the recession began are you you picking a number that of eight what eight point two.

At eight point two million jobs lost in the recession is that what you said eight point two.

Yet acts are actually it's it's eight point eight million jobs that were lost.

For the recession that ended in the period ending in.

June of 2009 yeah OK so since that time we have recovered back four point six million jobs so -- answer the question have we gotten those jobs back.

The answers answers absolutely not in the economic engine is not driving fast enough to build on those jobs and create more opportunity.

That's the basis of our economic Malays if you've got all those jobs -- have not returned as the paychecks if you're not being and you don't have a level of demand in the economy that you used to have so you don't have the rate of growth that's the basic problem -- it.

That that's actually right now as you and Charles have been very very articulate importing out.

The engine of economic growth this small business and medium sized business here in America and we take a look at -- thirteen what's coming for 2014 in terms of the health care law.

You're gonna see a lot of hesitancy among employers especially small business as -- try to sort this thing out so the prospect of light a fire -- the engine.

Here is actually being dampened by the administration's own.

Policy -- a second -- I've just got the White House response to this morning.

Jobs report the first paragraph is in fact of the -- -- would award from its statement last month is what -- what quote.

While mall -- remains to be done.

Today's employment report provides further evidence that the US economy is continuing to heal from the wounds inflicted by the was -- since the Great Depression.

It is critical that we continue with the policies that are building an economy that -- -- for the middle class as we dig -- way after the deep all the was caused by the severe recession that began in December of 2007.

Only the date changed -- -- Well I think what it's easy to -- -- replace.

On Microsoft Word from Hawaii but let's take this seriously okay.

We're looking at a administration has just been reelected in the central core issue here is getting Americans back to work and how do you create more jobs you need at least 300 -- 350000.

More jobs.

Per month created.

In order to get people back to work you've got.

Three million people on unemployment benefits over two million on extended unemployment benefits and millions of Americans who are trying their best group dropped out of the workforce at this is not the status quo that we should expect.

Yeah -- the new normal we don't like it -- call white thank you very much indeed Charles that you -- that.

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Unemployment Rate at 7.8%, W.H. Says We’re Healing

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