Press Release

Gutierrez Says Economic Fundamentals Solid with Growing Economy and Unemployment Rate at 4.6 Percent

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez today issued the following statement on the August Employment Report that showed that our unemployment rate remained low at 4.6 percent.

“Although the unemployment report showed a dip in hiring, the fundamentals of our economy are solid. We’ve got to look at the overall picture of this resilient economy. We have had 47 straight months of job growth and we saw strong GDP growth at four percent in the second quarter. And we continue to see signs of growth: booming exports, strong industrial production and rising wage growth.

“The American economy has been able to withstand many challenges. Despite concerns being worked through in the mortgage markets, we have witnessed 23 straight quarters of economic growth that have brought historically-low levels of unemployment—lower than the average in each of the past four decades.

“We must continue to preserve and implement the President’s pro-growth policies. We must break down barriers to U.S. exports and open new markets for American goods and services. Passage of pending FTAs will increase our rising exports and extend the benefits of open markets to other American businesses. We look forward to working with Congress to pass pending Free Trade Agreements with Peru, Colombia, Panama and Korea, and extending Trade Promotion Authority. When we break down barriers to trade and investment, we create opportunities for American workers and increase the competitiveness of our economy.”