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President Obama's top economic adviser Lawrence Summers today for the first time predicted that job growth would begin as early as this spring.
Lawrence Summers.
(ABC News Photo Illustration)
"I believe that, as do most professional forecasters, that by spring, employment growth will start to be turning positive," Summers told ABC's "This Week."
It's the first time the White House has predicted job growth on such a short timetable.
Summers would not commit to a timeline during an earlier ABC News interview on Dec. 4, the day the last jobs report was released. That jobs report showed the national unemployment had dropped in November, from 10.2 percent previously, to 10 percent. At the time, Summer advised caution.
"Certainly we got an indication that some very serious problems were abating today, but no one should be declaring victory," he said then.
Yet today, he touted those same numbers.
"Make no mistake, we were losing 700,000 a month when President Bush turned the economy over to President Obama. The number last month was 11,000," he said.
President Obama's top economic adviser Lawrence Summers today for the first time predicted that job growth would begin as early as this spring.
Lawrence Summers.(ABC News Photo Illustration)
"I believe that, as do most professional forecasters, that by spring, employment growth will start to be turning positive," Summers told ABC's "This Week."
It's the first time the White House has predicted job growth on such a short timetable.
Summers would not commit to a timeline during an earlier ABC News interview on Dec. 4, the day the last jobs report was released. That jobs report showed the national unemployment had dropped in November, from 10.2 percent previously, to 10 percent. At the time, Summer advised caution.
"Certainly we got an indication that some very serious problems were abating today, but no one should be declaring victory," he said then.
Yet today, he touted those same numbers.
"Make no mistake, we were losing 700,000 a month when President Bush turned the economy over to President Obama. The number last month was 11,000," he said.
What he is saying sure is consistent with Mr. Burns.
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