CEA's Bernstein: Jobs report shows 'steep climb' still ahead

The disappointing U.S. employment report for April shows the economy still has a long road ahead to recover from the losses suffered in the coronavirus pandemic, but the shortfall does not mean the Biden administration needs to change its policy course, a top White House economic adviser said on Friday. "We have a long way to go.

The disappointing U.S. employment report for April shows the economy still has a long road ahead to recover from the losses suffered in the coronavirus pandemic, but the shortfall does not mean the Biden administration needs to change its policy course, a top White House economic adviser said on Friday.

"We have a long way to go. This report emphasizes how steep the climb is out of this crisis, and it shows the importance of the American Rescue Plan," Jared Bernstein, a member of the president's Council of Economic Advisers, said in an interview with Reuters. (Reporting By Jeff Mason and Jonnelle Marte; Editing by Chizu Nomiyama)

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