Press Release

Statement by Secretary Gutierrez on July’s Employment Report

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the July Employment Report, which showed that the unemployment rate is 5.7 percent:

“We are not happy with today’s report that shows the economy lost jobs. It is difficult any time someone loses a job, but we continue to see the impact of the stimulus package proposed by the President and passed by bipartisan majorities in Congress. In the face of significant challenges, exports are booming, consumer spending is stronger, and we have highly competitive and productive workers. We expect the stimulus to boost the economy throughout the year as consumers continue to spend the 92 billion dollars already sent out. Businesses are also taking advantage of the incentives to invest and grow their companies, which likely will lead to added jobs.

“We must look to sound policies to help our economy. Exports are strong but could be even stronger if Congress would vote to increase the trade surplus with our FTA partners by passing the pending free trade agreements with Colombia, Panama and South Korea. These agreements will help our exporters add even more growth to the economy and create higher paying jobs. The President’s historic tax cuts must be made permanent so that businesses can anticipate future spending and make hires. Most new jobs are created by small businesses. Making these tax cuts permanent would create an environment where they can plan and grow and add jobs to our economy. Congress also must vote to enact an energy policy that increases domestic oil production while diversifying and increasing sources of renewable energy.”