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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 693-4650
Today's employment situation report shows our economy is continuing its
strong and stable growth.
The unemployment rate in February edged up only 0.1 percent to 4.1
percent, and at 64.8 percent, the employment population rate continues to be
the highest in history.
I was particularly pleased to see that manufacturing employment
increased by 5,000 last month. This amounts to an increase of 31,000 since
October. In particular, we saw impressive growth in electrical equipment, motor
vehicles and industrial machinery.
It's important to note that as we celebrate Women's History Month,
America's working women are making history. The unemployment rate for adult
women only 3.5 percent continues to be impressively low. And at 59 percent, the
employment population rate for women is at a record high.
I have often said, and this report makes clear, we do not have a worker
shortage in this country, but we do have a skills shortage. We must equip all
Americans with the tools they need to not only survive but to thrive in the new
economy. At the same time, we must provide businesses with the skilled workers
they need to succeed in the global economy. That is why next month I will
convene a first of its kind national Skills Summit here in the nation's
capitol. The purpose will be to develop and exchange innovative, practical and
cost-effective strategies, and forge strong partnerships for satisfying
employers' immediate need for skilled workers.
In order for our economy to continue its historic prosperity, all of us
must work together to keep America working.
Archived News Release--Caution:
information may be out of date.
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