OBAMA ADVISER: WINTER STORMS TO ‘DISTORT’ UNEMPLOYMENT FIGURES
UPDATE 1-Winter storms to distort US jobless figures-Summers | Reuters.
WASHINGTON, March 1 (Reuters) – White House economic adviser Larry Summers said on Monday winter blizzards were likely to distort U.S. February jobless figures, which are due to be released on Friday.
“The blizzards that affected much of the country during the last month are likely to distort the statistics. So it’s going to be very important … to look past whatever the next figures are to gauge the underlying trends,” Summers said in an interview with CNBC, according to a transcript.
Construction activity was hit particularly hard by the storms, but many restaurants and stores also had to close, putting the brakes on hiring plans and temporarily throwing some employees out of work.
Summers, director of the White House’s National Economic Council, also said the United States was closely monitoring Greece’s debt problems and U.S. Treasury Secretary Timothy Geithner was encouraged by what he had heard from European officials about the issue.
“With respect to Europe, I am obviously very concerned about what’s happening in Greece and Portugal, in Spain, in Italy, on the European continent,” Summers said.
“I think there have been increasing signs of recognition both in Greece and in the major countries of Europe that this is a situation that has to be managed; that combination of getting the Greek budget under better control and providing more support is necessary to stabilize this situation.”
Summers brushed aside speculation that he was interested in changing jobs.
“I like what I’m doing,” he said. “My view is if the president asks me to do something in which I think I can make a contribution, the right approach to it is to say yes, and that’s why I’m very pleased to be here working at the National Economic Council.”
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March 3, 2010 - 07:31 PM on March 3rd, 2010
So Global Warming/Climate Change is also responsible for this unemployment!!!
NOT the Government, NOT Obama’s policies!
We MUST IMMEDIATELY enact Cap and Trade! Accept Kyoto! Elevate Al Gore to Messiah! Give him ALL of our Liberty and money!
And it’s all Bush’s fault anyway because Global Warming is also Bush’s fault!
March 4, 2010 - 05:41 PM on March 4th, 2010
Like most Reds obama and has people will tell you unemployment is at a all time low. and we have our great leader to thank for his great action to stop the evil bush workers from bad action against the great leaders work and anyone saying a evil word about our great leader from africa may go down if you know what i mean by down?
and now, now, Robert we need cap and trade to make money for al and obama family in africa, and mexico and and any place but here. and hell yes global warming is a must after all it maybe a total hoax but think of the little childern of africa and the third world but not here our kids and die by being eaten by the third worlds people. let us all thank our great leader obama the white black guy in office. I need to go to a nice bar.