Assistant U.S. Treasury Secretary Alan Krueger held a briefing this morning to discuss the July unemployment figures. Krueger trumpted the fact that the private sector added jobs for the seventh straight month.
“We still have a long way to go before the economy is generating all of the jobs we need for the labor force,” he said. “Nonetheless, the fact that private sector employment has expanded for seven months in a row and that weekly work hours are recovering are indications that we are moving in the right direction.