April 3, 2015
Today’s jobs report from the Bureau of Labor Statistics
reflects stability in the unemployment rate, while also showing a continual
rise in workers hourly earnings. In the past year, the uptick in job growth
has seen average monthly gains
increasing in major sectors such as manufacturing, health care, as well as
professional and business services, to name a few. It is also worth mentioning
that for the past 61 consecutive months, the private sector has added 12.1
million jobs; continuing the longest streak on record. While the recent
progress is encouraging, more work needs to be done to ensure that our
country’s economic growth is sustained and shared with a broad range of
American families.
This week, Secretary of Commerce Penny Pritzker gave the
keynote address at a forum in Tampa, Florida where she underscored the
important role of trade and exports to positively impact America’s economic
climate. Along with her visit to Tampa, the Secretary made a stop in Orlando
where she toured the University of Central Florida’s Maker Space labs.
Secretary Pritzker also announced the first 26 recipients of the 2014 Regional
Innovation Strategies (RIS) program grants; the RIS program is a new initiative
designed to advance innovation and capacity building in regions across the
country.
Around Commerce, the Department officially launched the
Startup Global initiative; EDA’s regional offices have been working vigorously
with communities to help them prepare for and rebound from the economic impact
of natural disasters; and Census, along with the U.S. Department of Housing and
Urban Development, released statistics which illustrate that more than half of
American homes have a prepared emergency evacuation kit.
Enjoy your weekend, and thank you for keeping America
Open for Business.
-Jim
U.S.
Commerce Secretary Penny Pritzker Delivers Remarks on the State of the U.S.
Economy, the Importance of Trade, And the President’s New Cuba Policy- In
her remarks, Secretary Pritzker discussed the economic progress of the recovery
in the United States and highlighted new trade agreements in the Asia Pacific
and Europe as key components of the Obama Administration’s agenda to build a
lasting economic expansion nationwide.
U.S.
Commerce Secretary Penny Pritzker Announces $10 Million in Grants to Advance
Innovation Across America- The Regional Innovation Strategies (RIS) program
is a new initiative designed to advance
innovation and capacity-building activities in regions across the country
through three different types of grants: i6 Challenge grants, Cluster Grants
for Seed Capital Funds, and Science and Research Park Development Grants.
Secretary
Pritzker Tours University of Central Florida Maker Space and Announces Funding
for Innovators- Secretary Pritzker had the opportunity to see a bionic arm
firsthand during her tour. She also met with a group of students who are working
on new ways to make it easier for wheelchair-bound individuals
to experience the attractions at Universal Studios.
U.S.
Department of Commerce Names Aspen Institute as National Partner for Talent
Development Secretary Pritzker named the Aspen Institute Workforce
Strategies Initiative (AspenWSI) as the Department of Commerce’s national
partner for a new program to strengthen regional economies by equipping
American workers with the skills needed for 21stcentury jobs.
Secretary
Pritzker Highlights Obama Administration’s Cuba Policy and Value of Exports to
Tampa Bay Region’s Economy- During the event, which was co-hosted by
Congresswoman Kathy Castor, the Greater Tampa Chamber of Commerce, and the
Tampa International Airport, Secretary Pritzker underscored the economic
progress Tampa Bay has made while highlighting how the Obama Administration is
working to further strengthen the local economies across the country.
Commerce
Department Launches First Startup Global Pilot Event to Help Young Companies Do
Business Internationally- U.S. Secretary of Commerce Penny
Pritzker announced Startup Global, an initiative designed to help
more startup firms think global from the earliest stages of a company’s
growth, in February.
Export
Control Reform: Protecting National Security and Strengthening the U.S. Defense
Industrial Base The Department of Commerce’s Bureau of Industry and
Security (BIS) is one of the primary agencies charged with administering an
effective U.S. export control system. The U.S. maintains export controls
to ensure that our most advanced technologies, commodities, and software do not
end up in the wrong hands overseas.
Spotlight
on Commerce- The spotlight on Commerce series continues with Andrea Pacheco
Dhamer, Deputy Director for the Office of Business Liaison; Donna F. Dodson, Associate
Director and Chief Cyber Security Advisor and Director; Anne Neville, Director,
State Broadband Initiative; and, Michelle K. Lee, Under Secretary of Commerce
for Intellectual Property and Director of the U.S. Patent and Trademark Office,
highlighted this month.
Preparing
for Tornado Season: Plan Ahead and Know Where to Go- Tornado season has
just begun and it is imperative to have a plan of action plan of action in the
event a tornado threatens your family, and to rehearse that plan frequently.
Census
Bureau and HUD Report Over Half of U.S. Homes Have Emergency Evacuation Kits-
These statistics come from new disaster preparedness questions, one of four
topics added to the 2013 American Housing Survey. The three other topics are
community involvement, neighborhood characteristics and public transportation.
EDA:
Working to Stop Economic Disaster when Natural Disasters Strikes- While
there are many success stories to point to across the Nation, some communities
experience setbacks that cannot be anticipated or prevented. Natural disasters -
for example - do more than wipe out homes; they can wipe out businesses and
decimate local economies.
Happy
Census Day!- Census Bureau Director John Thompson writes that April 1,
2015, marks Census Day for the Savannah, Ga., and Maricopa County, Ariz.,
areas, sites where two important test censuses are underway. During the census
every 10 years, Census Day provides the reference day for measuring the
population. We’re using the same reference day for the 2015 Census Tests in the
Savannah and Maricopa County areas.
Moving
in the USA: Domestic Migration Before and After the Recession- Census
Bureau demographers Ben Bolender,
Peter Borsella, Luke Rogers and Sam Garrow write that in 2014, about
18.9 million people moved between counties in the U.S., which is slightly down
from about 19.1 million the year before. Looking at big social and economic
events-such as the Great Recession from 2007 to 2009-they can see real
differences in migration patterns the year before the recession and after.
Under Secretary Doms wrote Timelier,
more accurate data: the Commerce Department’s statistical agencies deliver on
promise of better data for better decision-making on his blog this week.
The Bureau of Economic Analysis wrote Advance
Trade Data Aim to Improve First Estimate of Quarterly GDP and February
2015 Trade Gap is $35.4 Billion on their blog this week.
Construction
Spending (Construction Put in Place)- February 2015: Total construction
activity for February 2015 ($967.2 billion) was 0.1 percent below
the revised January 2015 ($967.9 billion).
U.S.
International Trade in Goods and Services- February 2015: The
nation’s international
trade balance in goods and services increased to -$35.4 billion in
February from -$42.7 billion in January (revised), as imports decreased more
than exports.
Manufacturers’ Shipments, Inventories, and Orders- February
2015: New
orders for manufactured goods in February increased $0.8 billion or
0.2 percent to $468.3 billion.
Final
U.S. Imports for Consumption of Steel Products- February 2015: The
quantity of U.S. imports
for consumption of steel products reached 3.4 billion metric tons
with a value of $3.1 billion in February 2015, which is up from 3.0 billion
metric tons and a value of $2.7 billion in February 2014.
Commerce Data
in the News:
U.S. News &
World Report cites Census Bureau population estimates to write that
retirees are headed to the Carolinas, Florida and Arizona in the article, Where
Retirees Want to Live Now: Many Boomers Who Relocate in Retirement are Heading
South and West.
The New York Times
cites Census Bureau race and ethnicity statistics to write that the Bronx’s Korean population is the smallest
of New York City’s five boroughs, having declined by more than half to 2,214 in
2013 from 5,166 in 1990, even as the larger Korean population in the city has
increased by a third, to 94,475 from 70,542 during that same period, in the
article Bronx Koreans Cope as Their Population
Shrinks.
BEA’s Personal
Income and Outlays report was cited in a New York Times article: U.S.
Consumer Spending Tepid; Savings at Two-Year High.
BEA and Census’ monthly trade report, U.S.
International Trade in Goods and Services, was cited in a Bloomberg article: Trade
Gap in U.S. Shrink to Five-Year Low as Imports Slump.
BEA’s media
advisory was cited in a MarketNews
International article: US
Commerce to Launch Advance Trade Report July 30.
Data
Releases Next Week: Monthly Wholesale Trade Survey: February 2015
(Census).
On Monday, U.S. Secretary of Commerce Penny Pritzker will
travel to Richmond, Virginia to join U.S. Senator for Virginia Tim Kaine for a
roundtable meeting with local business owners. They will discuss how increased
trade opportunities for businesses, including trade deals like the
Trans-Pacific Partnership, will impact Virginia companies and the
Commonwealth’s economy.
On Tuesday, MBDA National Director Alejandra Castillo
will speak at the U.S. Commercial Service’s Look South- Colombia, a seminar at
Texas A&M University in Laredo, highlighting the opportunities of doing
business in the South American country.
Beginning on Wednesday, Deputy Secretary Bruce Andrews
will travel as part of President Obama’s delegation to the Summit of the
Americas in Panama City, Panama. While in Panama, he will participate in
the CEO Summit of the Americas, meet with delegations from the Council of the
Americas, the U.S. Chamber of Commerce, and the Inter-American Development
Bank, and participate in the announcements of key advocacy wins for Sabre and
Boeing with Copa Airlines. He will demonstrate how the Administration is
committed to generating broad-based economic growth and improving commercial
competitiveness across the Western Hemisphere.
Also on Wednesday, Secretary Pritzker will attend the
President’s Advisory Council on Doing Business in Africa (PAC-DBIA) meeting.
Additionally on Wednesday, Deputy Assistant Secretary for
Economic Development Matt Erskine will participate in an event in Bloomsburg,
PA that will help protect vital business infrastructure in Columbia County from
floods.
On Thursday, NTIA Director of Privacy Initiatives John
Verdi will discuss privacy issues raised by unmanned aerial vehicles (drones)
and the “nexus between policy and innovation” at a Business Forward member
meeting.
Also on Thursday, ITA Deputy Assistant Under Secretary
Paul Piquado will participate in the International Conference on Trade Remedy
Measures in New Delhi, India.
Starting Friday, Secretary Penny Pritzker and Secretary
Ernest Moniz will lead a Smart Cities - Smart Growth Business Development
Mission to Beijing, Shanghai, and Guangzhou. The mission will promote U.S.
exports to China.
Additionally on Friday, USPTO Director Michelle Lee will commemorate
the 225th Anniversary of the Patent Act at the USPTO campus.
While
visiting Tampa, Secretary
Pritzker spoke with Veronica Cintron from Bay News 9 Tampa about the importance
of the Administration’s policy change toward Cuba.
Bonus Photo of the Week:
Department
of Commerce’s 2015 Manufacturing
Council being sworn in. The thirty private sector members of the
Manufacturing Council advise the Secretary of Commerce on government policies
that affect U.S. manufacturing and propose solutions to industry-related
problems.
Secretary
Pritzker’s interview with Katie Couric where she talks about the challenges
employers have in finding skilled labor.
Bonus Video of the Week:
CEO
and President of Siemens, Eric
A. Spiegel explains why America is an attractive location for foreign
investors to expand and grow their business at the 2015 SelectUSA Investment
Summit.
How
Many Back Home?- The Census Bureau
has a graphic show the population of the college cities and host site of the
2015 men’s and women’s NCAA basketball tournament Final Four teams.
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