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Listening to Local Businesses in South Carolina

Submitted on August 31, 2011 - 3:55pm
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In the heart of South Carolina’s picturesque horse community, I sat down at the Aiken County Chamber of Commerce to begin the first of two White House Business Council roundtable discussions with local business owners in Aiken and Columbia, S.C.  These discussions, focused on rural communities during the month of August, are designed to provide an intimate forum for local businesses to discuss the obstacles they face in creating jobs and growing their businesses. 

Statement from U.S. Commerce Department Chief Economist Mark Doms on Personal Income and Outlays in July 2011

Submitted on August 29, 2011 - 11:55am
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WASHINGTON – The U.S. Commerce Department’s Bureau of Economic Analysis today released data on personal income and outlays for July 2011. Personal income rose 0.3 percent in July, slightly below private-sector forecasts of a 0.4-percent increase, though personal income in both May and June was revised upward. Wages and salaries, the largest component of income, rose 0.4 percent. Real consumer spending jumped 0.5 percent, consistent with expectations, representing the largest monthly increase in real consumer spending since August 2009. Spending was boosted by consumer purchases of motor vehicles and higher home electricity costs due to warmer weather.

Statement from Acting U.S. Commerce Secretary Rebecca Blank on New Residential Construction in July 2011

Submitted on August 16, 2011 - 10:02am
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WASHINGTON – The Commerce Department’s U.S. Census Bureau today released data on new residential construction for July 2011. Permits for new housing units fell 3.2 percent following a small increase in June. Private-sector analysts had expected a 1.8-percent decline. The decrease was driven by multi-family homes with five or more units. Permits for single-family homes and those with two-to-four units both increased. Housing starts declined 1.5 percent in July after a large increase in June. Private-sector analysts had expected a 4.6-percent decrease.

Statement from Acting U.S. Commerce Secretary Dr. Rebecca Blank on Retail Sales in July 2011

Submitted on August 12, 2011 - 12:39pm
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WASHINGTON – The Commerce Department’s U.S. Census Bureau today released retail sales data for July 2011. Retail sales increased 0.5 percent, similar to private-sector expectations, and sales in May and June were revised upward, each by 0.2 percent. Motor vehicle sales increased 0.5 percent in July, and sales at gasoline stations jumped 1.6 percent. Sales excluding those at motor vehicle and parts dealers and gasoline stations also rose 0.5 percent.

Statement from Acting U.S. Commerce Secretary Rebecca Blank on U.S. International Trade in Goods and Services in June 2011

Submitted on August 11, 2011 - 9:51am
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WASHINGTON, D.C. – Acting U.S. Commerce Secretary Rebecca Blank issued the following statement today on the release of the June 2011 U.S. International Trade in Goods and Services report by the Commerce Department's U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today's report showed that U.S. exports of goods and services in June 2011 decreased 2.3 percent from May 2011 to $170.9 billion. The monthly export value for U.S. consumer goods ($15.0 billion) was the highest on record. U.S. imports of goods and services decreased 0.8 percent over this period to $223.9 billion, causing the U.S. trade deficit to increase 4.4 percent since May 2011 to reach $53.1 billion in June 2011.

New Commerce Department Report Finds Greater Wage Parity, Premium for Women in STEM Jobs

Submitted on August 3, 2011 - 11:25am
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WASHINGTON, D.C. – The U.S. Commerce Department’s Economics and Statistics Administration (ESA) today issued the second in a series of reports on science, technology, engineering and mathematics (STEM) jobs and higher education.

As expected, the report, Women in STEM: A Gender Gap to Innovation, finds there are fewer women than men in STEM jobs and attaining degrees in STEM fields. But interestingly, that’s true despite the fact that the wage premium for women in STEM jobs is higher than that for men and that there’s greater income parity between genders in STEM fields than there is in the employment market as a whole.

application/pdf iconWomen in STEM: A Gender Gap to Innovation

Statement from U.S. Commerce Department Chief Economist Mark Doms on Personal Income and Outlays in June 2011

Submitted on August 2, 2011 - 11:20am
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The U.S. Commerce Department’s Bureau of Economic Analysis today released personal income and outlays data for June 2011. Personal income rose 0.1 percent in June, consistent with private-sector forecasts. Wages and salaries, the largest component of income, remained unchanged despite a decline in June hourly earnings. Real consumer spending was also unchanged, in line with private-sector expectations.