Summers: Job market stabilizing but has a long way to go

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Top White House economic adviser Lawrence Summers said Tuesday that the job market was stabilizing but the economy still had a long way to go to return to health.

“Clearly, we’ve got an economy with many people out of work who don’t need to be,” Summers told CNBC in an interview.

“There’s no question that the growth rate will fluctuate from quarter to quarter and I think that everyone has recognized that there were some special factors in the fourth quarter,” Summers said, referring to the 5.7 percent economic-growth rate recorded in the final three months of the year.

Full story: Summers: Economy Improving, but Has Long Way to Go Reuters via CNBC