President Barack Obama’s chief economic adviser declared during an on-campus forum this afternoon that the U.S. economy is “slowly healing.”
“Every month when the unemployment rate comes out, I put out about the same statement because I think it happens to be accurate,” Alan Krueger, chairman of the White House Council of Economic Advisers, told nearly 400 attendees at Norris University Center. “We are recovering from the worst recession we’ve had since the Great Depression.”
Krueger’s take on the state of the domestic economy closely tracked his monthly remarks about the unemployment rate, which dropped from 8.1 percent in August to 7.8 percent in September.
“While there is more work that remains to be done, today’s employment 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,” Krueger said in a statement shortly after the release of the latest jobs report Friday.
— Patrick Svitek
