VIDEO: Solis declines to predict when economy will recover

It is difficult to say when the economy will stop shedding jobs and start growing again, Labor Secretary Hilda Solis said Friday.

"I don't have a crystal ball," Solis told CNBC in her first interview since taking her new position. "All I can tell you is that we're doing everything we can to expedite funding for those people who are unemployed."

Solis emphasized that her agency's focus would be on distributing $3.5 billion in funds to assist out-of-work Americans get additional training or find new work.

"It's hard to predict," Solis said of when the economy would recover. "As you know, this is a relatively new administration. I think the president has really demonstrated his commitment that he will attack this problem on every front, and also in our financial markets."

Watch a video of the interview below: