The Hill News

Today’s employment report shows that the unemployment rate fell sharply to 9.0 percent and private sector payrolls increased by 50,000 in January. Revisions to private sector payroll data show that 1.1 million jobs were added during 2010, the strongest private sector job growth since 2006. The 0.8 percentage point decline in the unemployment rate over the past two months is a welcome development; however, the rate remains unacceptably high.

The overall trend of economic data in recent months has been encouraging, as initiatives put in place by this Administration are taking hold, but there is still considerable work to do. Today, the Administration puts forward our comprehensive innovation agenda, which details our efforts to accelerate American leadership in educating our workers, investing in science, and building the infrastructure our companies need to succeed. Innovation will be a key driver of the economy as we strengthen America’s position as home ! to the world’s best new businesses and industries, and the best jobs. 

Read more...