Press Release

Gutierrez Praises Record-Breaking 50th Month of Job Creation

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez today issued the following statement on the October Employment Report that showed that our unemployment rate remained low at 4.7 percent and the economy created 166,000 new jobs.

“This week the economy delivered a one-two punch of good economic news: robust third quarter GDP growth and today’s solid employment figure for October. The 166,000 jobs that the economy created in October comes on top of 1.68 million new jobs created over the last 12 months and 8.31 million since the labor market turnaround of 2003. Even as the housing correction continues, exports are booming, consumers are active, incomes are rising, and businesses are investing. The U.S. economy continues to stand out for its strength and resilience.

“Now is the time to continue enacting pro-growth policies that strengthen our competitiveness. U.S. exports are clearly contributing to our economic growth, so 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.

“We look forward to working with Congress to pass pending Free Trade Agreements with Peru, Colombia, Panama and Korea. We believe in extending the same preferences to U.S. farmers, workers and businesses that Congress has already given to the farmers, workers and businesses of Peru, Colombia and Panama. Let’s level the playing field and continue the U.S. economic expansion that has created over 8 million jobs in the past 50 months.”