Friday morning the President was at Thompson Creek Manufacturing in Landover, Maryland to see an example of a company that is beginning to thrive, and to hear what role his Administration's actions have had. For Thompson Creek, it wasn't just the 16 tax cuts for small business, as it turned out they manufacture energy-saving windows that help other businesses cut costs; and so the President's incentives for that have given them a huge boost.
According to a statement by David Axelrod, Senior Advisor to the President, roughly 113,000 new private sector jobs were created by America’s businesses in December, the twelfth consecutive month of positive job growth in this country. In 2010, 1.3 million private sector jobs were added, the strongest job growth since 2006. During the fourth quarter of 2010, the unemployment rate dropped .4 percentage points to 9.4%. (Although higher in some individual states).
Even with those encouraging figures, there are still too many people out of work.
Said President Obama, "Even though our economy is recovering, we’ve still got a lot to do. This was a brutal recession that we went through, the worst in our lifetimes. It left a lot of destruction in its wake. More than 8 million jobs were lost. So even though we’ve created 1.3 million jobs and we saved a whole lot of jobs, you’ve still got a whole bunch of folks who are out there looking, still struggling. We've got a big hole that we’re digging ourselves out of."
The president has added Gene Sperling, who was recently appointed Director of the National Economic Council.to help accelerate hiring and to accelerate growth. Sperling led efforts to pass the small business jobs bill to help American companies.
Watch the president speak on the jobs numbers and his efforts to strengthen the economy by creating more jobs.
The president plans to visit Schenectady, New York to visit the birthplace of General Electric. The site is home to GE’s largest energy division, including steam turbines, generators, wind and solar, and the future home of GE’s advanced battery manufacturing facility. The President will tour the site with GE CEO Jeffrey Immelt and he will make remarks on the importance of growing the economy and making America more competitive by investing in jobs, innovation and clean energy.
The GE plant in Schenectady is a direct beneficiary of GE’s power turbine deal with India announced during the President’s trip last November.