Yellen Says ‘Recovery Will Remain On Track,’ After Weak Jobs Report

Yellen Says ‘Recovery Will Remain On Track,’ After Weak Jobs Report

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Yellen Says ‘Recovery Will Remain On Track,’ After Weak Jobs Report

Treasury Secretary Janet L. Yellen said on Friday that April’s jobs report, which cited an addition of 266,000 jobs last month, was an indicator that the U.S. has a long road to economic recovery, but described the growth as continued progress.

We knew it would be a long road back to recovery. That’s why the legislation provided lasting support rather than just a few months of relief. We knew this would not be a 100-day battle. And today’s jobs report underscores the long-haul climb back to recovery. But let me be clear, the 266,000 jobs added in April represent continued progress. After all, one year ago, we learned we’d lost over 20 million jobs in one single month. I believe we will reach full employment next year. But today’s numbers also show that we’re not yet finished. As our economy continues to heal, it’s important to consider ways in which we can build back better. Recovery will remain on track, and it may be bumpy from month to month for a variety of factors. You know, there are often quite large revisions to months as well.

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