The White House boasted a new jobs report Friday as evidence the US economy country has pulled back from recession.
US job employment slowed down slightly to 9.4 percent from 9.5 percent while Jobs fell by 247,000, after a 443,000 loss in June the labor and department reported today in Washington.
The unemployment result was the first drop since April 2009, beating forecast last month. Although some businesses are expected to decrease payrolls within this year, the forecast offers the clearest signs sinking job market since the Great Depression is easing.
The forecast beat projection of job losses of about 325,000 and unemployment rate to rise to at least 9.6% from 9.5% in June.
Despite the positive outcome of the job reports, Presidential spokesman Robert Gibbs said that the US government will still face a lot of works to be done while he acknowledge the report by saying it is more evidence that we have pulled back from the edge of a depression.
Gibbs also added that the US economy will likely still needs sometimes before the nation sees a period of sustained job growth.