FROM THE OFFICE OF PUBLIC AFFAIRS

December's solid growth in the retail sector and upward revisions to November sales is consistent with a strengthening of the economy's underlying fundamentals. Along with healthy retail sales, last year ended with encouraging news in the form of record high homeownership rates, solid business investment, strengthening in the manufacturing sector, strong construction output and robust GDP growth. Unemployment claims – both initial claims and continuing claims – fell this week, indicating improvement in the labor market. We are on a path to sustained economic recovery.

However, looking forward, there is more to be done. Building on the boost provided by the Jobs and Growth Act, the President has proposed a six-point plan to further bolster economic growth. This Administration will continue its efforts until every American looking for work can find a job.