Bush to react to new US jobless figures
US President George W Bush will make a statement on the sputtering US economy on Friday, the White House said after official figures showed 63,000 lost jobs in February.
By Agencies |
WASHINGTON: US President George W Bush will make a statement on the sputtering US economy on Friday, the White House said after official figures showed 63,000 lost jobs in February.
Bush's hastily announced public remarks were to come as the White House questioned whether the data showed the US economy was in recession, pointing to a drop in the unemployment rate, which is based on a separate survey.
"When people talk about recessions, I don't know that there's ever been a recession with 4.8 per cent unemployment rate," spokesman Tony Fratto said after the US Labor Department reported a drop from the previous 4.9 per cent level.
Bush's hastily announced public remarks were to come as the White House questioned whether the data showed the US economy was in recession, pointing to a drop in the unemployment rate, which is based on a separate survey.
"When people talk about recessions, I don't know that there's ever been a recession with 4.8 per cent unemployment rate," spokesman Tony Fratto said after the US Labor Department reported a drop from the previous 4.9 per cent level.
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