White House: Economy \"Moving In Right Direction\"

(Washington, DC) -- "We're moving in the right direction." That's how presidential spokesman Jay Carney characterized the latest jobs figures. The economy added 203-thousand jobs last month, a number that exceeded expectations. The national unemployment rate dropped to seven percent, a five year low. Carney said seven percent is "still too high." He also argued that things would be better were it not for mandatory government spending cuts and the impacts of the 16-day government shutdown last month.