White House Economic Advisor Summers Blames Winter for Higher Unemployment

Friday the Unemployment report to be released by the Labor Department and the number climb higher. White House Economic Adviser Lawrence Summers say the numbers effected by the  parade of Nor’easter style winter storms which battered the East Coast.

“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 on Monday.

Particular industries including Construction  which hard hit. Retail and Restaurants  in the service industry was hit as well  which held off hiring temporarily.

Reuters has more.


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