Press Release

Jobs Growth Praised by Commerce Secretary Gutierrez

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez today issued the following statement on the November Employment Report that showed that our unemployment rate remained low at 4.7 percent and the economy created 94,000 new jobs during its 51st straight month of job growth.

“GDP growth was 4.9 percent and productivity (nonfarm business sector) was up 6.3 percent in the third quarter of 2007─the highest gain for both indicators in four years. Today’s employment figure for November echoes the growth we have been experiencing while our unemployment remains at a low rate.The 94,000 jobs that the economy created in November are part of 1.53 million new jobs created over the last year, an average of 127,000 jobs per month. Even as the housing correction continues, exports are booming and businesses are investing.

“Now is the time to continue enacting pro-growth policies that strengthen our competitiveness.Strong growth in U.S. exports are clearly contributing to our economic growth and job creation: trade contributed almost 30 percent to GDP growth in the third quarter. We should be doing everything we can to encourage further export growth.We should open new markets for American workers and exporters so we can continue to grow and prosper.

“Bipartisan cooperation to pass the U.S.-Peru free trade agreement in both the House and Senate sets a positive tone for our common agenda to give American businesses, workers and farmers the tools needed to compete and win globally.I look forward to building on this momentum by working closely with Congress to pass pending free trade agreements with Colombia, Panama and Korea in the coming months.”