Unemployment Remains Low, GDP Remains Strong, and Americans Making and Spending More Recently, the U.S. Labor Department’s Bureau of Labor Statistics reported that the U.S. economy added over 227,000 new jobs in November – exceeding expectations. A record 16 million jobs have been created under the Biden-Harris Administration. In addition to the recent job numbers, the U.S. economy remains strong...

Recent estimates show that industries that heavily rely on data from the U.S. government reached revenues of almost $800 billion in 2022, up from around $400 billion in 2012. Among industries that heavily use government data, the greatest revenue increases were seen in Internet Publishing and Broadcasting and Web Search Portals, and Management Consulting Services. Leveraging data from the U.S...

Native American Heritage Month is a time to honor the rich history and heritage of Native Americans and recognize their vast contributions to our country’s progress and our economy. Since day one, Commerce Secretary Gina Raimondo and Deputy Secretary Don Graves have believed that a healthy and successful Indian Country is at the heart of a prosperous American economy. Economic growth only matters...

Last month, Deputy Secretary of Commerce Don Graves called five organizations to congratulate them on receiving the 2024 Malcolm Baldrige National Quality Award , the nation’s only presidential award for performance excellence. Now that the initial celebrations have quieted, the real power of the Baldrige Award begins —sharing of best practices so that other U.S. organizations can learn and...

Yesterday, U.S. Deputy Secretary of Commerce Don Graves honored the life and legacy of Norman Y. Mineta and officially named the Commerce Department’s auditorium in his honor. Secretary Mineta was the first Asian American to hold a cabinet position, serving at the Commerce Department and Department of Transportation. Held on his birthday, the event celebrated Secretary Mineta’s lifetime...

The U.S. Commerce Department’s Bureau of Economic Analysis (BEA) reported last week that real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024. Growth was in large part due to Americans making and spending more. Consumer spending increased 3.7%, the most since early 2023, thanks to rising incomes. The economy has grown 12.6% under the Biden...

“Our manufacturing future, our economic future, our solutions to the climate crisis are all going to be made in America, creating good jobs.” - President Joe Biden The U.S. manufacturing sector contributes $2.65 trillion to the U.S. economy , employs nearly 13 million American workers , and accounts for 10.3 percent of the nation’s GDP. Manufacturing Month is a time to recognize U.S. manufacturers...

Last week, U.S. Commerce Secretary Gina Raimondo and Deputy Secretary Don Graves participated in the 41st Annual National Minority Enterprise Development (MED) Week, where they honored the achievements of U.S. minority -owned business enterprises. Together they reaffirmed the Biden-Harris Administration’s commitment to advancing economic equity and equality and ensuring that minority-owned...