On Friday’s broadcast of NewsNation’s “The Hill,” White House Senior Adviser Gene Sperling discussed the recent jobs report and stated that things are “not good enough, because people are still facing too high costs in their family and personal lives. But in terms of the job market, yes, this is steady, sustainable job growth, better than even a soft landing. It’s a very steady and strong landing.”
Sperling said, “We’ve been saying for a while that, after the just rocket job growth that we had in 2021, that we needed to transition to what would be strong but sustainable job growth. What you have now is still an average of 245,000 jobs created per month in this year so far. So, even now in 2024, this is a stronger jobs market than many, many people predicted. I will say, under the previous administration, they never had a single year that averaged over 200,000 jobs per month. We’re still averaging 245,000, even in this month. And then the fact that unemployment was still under 4% for the 27th month in a row. That hasn’t happened in 50, 60 years. So, it’s not good enough, because people are still facing too high costs in their family and personal lives. But in terms of the job market, yes, this is steady, sustainable job growth, better than even a soft landing. It’s a very steady and strong landing.”
He added that “this is exactly the type of transition to strength and sustainability that you would like to see, without a downturn that might bring inflation down, but would hurt millions and millions of Americans.”
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