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: