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Entries in Alan Krueger (3)

Friday
Jul062012

White House Says Employment Not Growing Fast Enough

Andrew Harrer/Bloomberg via Getty Image(WASHINGTON) -- Reacting to Friday morning’s jobs report, the White House said the economy is continuing to heal, but that “much more remains to be done to repair the damage from the financial crisis.”

“It is critical that we continue the policies that build an economy that works for the middle class and makes us stronger and more secure as we dig our way out of the deep hole that was caused by the severe recession,” Chairman of the Council of Economic Advisers Alan Krueger said in a written statement.

“There are no quick fixes to the problems we face that were more than a decade in the making. President Obama has proposals to create jobs by ending tax breaks for companies to ship jobs overseas and supporting state and local governments to prevent layoffs and rehire hundreds of thousands of teachers,” he said.

The economy added 80,000 jobs in June -- fewer than expected -- and the unemployment rate remained unchanged at 8.2 percent, the Labor Department announced Friday morning.

The news comes as the president is campaigning in Ohio and Pennsylvania, touting his economic agenda and the comeback of the auto industry.

Krueger emphasized that the economy has added private sector jobs for 28 straight months and highlighted growth in the manufacturing sector, which added 11,000 jobs last month.

“Employment is growing but it is not growing fast enough given the jobs deficit caused by the deep recession,” he said.

As it does every month, the White House noted the unemployment figures can be volatile and that “it is important not to read too much into any one monthly report.”

Copyright 2012 ABC News Radio

Monday
Aug292011

Obama Taps Labor Expert to Head Council Of Economic Advisers

Andrew Harrer/Bloomberg via Getty Images (WASHINGTON) -- President Obama announced Monday that he is nominating labor economist Alan Krueger to lead his Council of Economic Advisers, saying he expects Krueger to provide him with “unvarnished” advice on the economy.

Ahead of his much-anticipated announcement next week outlining a new jobs initiative, Obama said Monday that it’s “more important than ever” that the council provide “recommendations not based on politics, not based on narrow interests, but based on the best evidence, based on what’s going to do the most good for the most people in this country.”

“We need folks in Washington to make decisions based on what's best for the country, not what's best for any political party or special interest,” Obama said in the Rose Garden.

The president called growing the economy “our urgent mission” and, once again, said he will unveil “a series of steps that Congress can take immediately” to create jobs. Obama has been calling for lawmakers to increase investments in infrastructure, extend the payroll tax cut and reform the patent system, among other measures.

Describing him as “one of the nation’s leading economists,” Obama said Krueger will being a “wealth of experience to the job.”

Krueger, 50, previously served as the Chief Economist at both the Treasury and Labor Departments. He is also a Princeton University professor. If confirmed, Krueger would take the place of Austan Goolsbee, who left the position earlier this month to return to teaching at the University of Chicago.

“It's going to be tough to fill the shoes of Austan Goolsbee, who's been a great friend and adviser who I've relied on for years,” Obama said. “But I have nothing but confidence in Alan as he takes on this important role as one of the leaders of my economic team.”

Monday’s announcement completes a shake-up of the White House economic team that has left Treasury Secretary Timothy Geithner as the only remaining official from Obama’s original circle of advisers.

Previous Council of Economic Advisers chair Christina Romer left in September 2010, National Economic Council director Larry Summers returned to Harvard in January, and Office of Management and Budget director Peter Orszag left last July.

Following speculation that Geithner was also readying to leave, Treasury announced earlier this month that the Secretary is in fact staying in his current position, despite growing calls for his ouster from leading Republicans.

Copyright 2011 ABC News Radio

Monday
Aug292011

Obama to Nominate Krueger to Head Council of Economic Advisers

Andrew Harrer/Bloomberg via Getty Images(WASHINGTON) -- A job opening is being filled at the White House -- a specialist on unemployment.

With the economy still reeling, President Obama is once again picking a new economic adviser from someone who has been on his team. Alan Krueger was chief economist at the Treasury, and is a professor at Princeton specializing in labor and unemployment research.

"Alan has been a key voice on a vast array of economic issues for more than two decades,” Obama said in a statement issued Monday shortly before an anticipated Rose Garden announcement. “Alan understands the difficult challenges our country faces, and I have confidence that he will help us meet those challenges as one of the leaders on my economic team."

Krueger will be the third Chairman of the Council of Economic Advisers -- the group that provides the president guidance on where the economy is headed -- following Christina Romer and Austan Goolsbee.

Here is the official announcement from the White House:

Today, President Obama will announce his intent to nominate Alan B. Krueger as a member of the Council of Economic Advisers (CEA).  Following his confirmation, President Obama will designate Dr. Krueger as Chairman of CEA.  Dr. Krueger will be a key member of the President’s economic team, bringing a wealth of knowledge and decades of experience to the challenge of creating jobs and promoting economic growth.

“I am pleased to nominate Alan Krueger to lead the Council of Economic Advisers. As one of this country’s leading economists, Alan has been a key voice on a vast array of economic issues for more than two decades,” said President Obama.  “Alan understands the difficult challenges our country faces, and I have confidence that he will help us meet those challenges as one of the leaders on my economic team."

If confirmed, Dr. Krueger will continue the CEA’s important work of developing and offering the President economic advice on the formulation of both domestic and international economic policy. The Council bases its recommendations and analysis on economic research and empirical evidence, using the best data available to support the President in setting our nation's economic policy.  

Dr. Krueger is the Bendheim Professor of Economics and Public Affairs at Princeton University, where he has held faculty appointments in the Economics Department and Woodrow Wilson School since 1987.  He is also the founding Director of the Princeton University Survey Research Center.  

Dr. Krueger previously served as Assistant Secretary for Economic Policy and Chief Economist at the U.S. Department of the Treasury (2009-10) and as Chief Economist at the U.S. Department of Labor (1994-95).  While serving at the Treasury Department, Dr. Krueger worked on the economic analysis of a variety of programs, including the HIRE Act, the Small Business Lending Fund, Build America Bonds and the Car Allowance Rebate System, or “Cash for Clunkers.”

Dr. Krueger was the Chief Economist for the National Council on Economic Education (2003-09) and elected a member of the Executive Committee of the American Economic Association (2005-07).  In 2002 he was elected as a fellow of the American Academy of Arts and Sciences.  He has been a member of the Board of Directors of the Russell Sage Foundation, the MacArthur Foundation, and the American Institutes for Research, and he has served as an editor of numerous leading economics journals.  Dr. Krueger received a B.S. from Cornell University's School of Industrial & Labor Relations (1983) and an A.M. (1985) and Ph.D. (1987) in Economics from Harvard University.


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