Press Release

Gutierrez Says Unemployment Remains Historically Low

WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez today released the following statement on the December Employment Report which showed that 18,000 jobs were created in December and the unemployment rate was at five percent:

“Today’s employment report reflects a growing economy that is nevertheless facing a challenge with the housing situation. We believe that despite the challenges, the fundamentals remain good. We’ve had 52 straight months of job growth and unemployment remains historically low. The unemployment rate finished the year at five percent with the average for 2007 being 4.6, which was the same rate for 2006.

“Whenever someone loses a job, it is tough on them and their family. So we are not complacent and firmly believe it’s important that we continue to promote pro-growth policies such as making the tax cuts permanent and expanding opportunities for exports.

“In 2008, we should continue enacting President Bush’s pro-growth policies that strengthen our competitiveness. Booming growth in real exports during the third quarter ─ 19 percent at annual rate ─ contributed 28 percent to our GDP growth. 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.”