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...

The Sustainability, Energy, and Environmental (SEE) Ambassadors program recognizes individual Departmental employees for their outstanding performance in implementing exceptional cost-saving projects and/or programs that help improve the Department’s sustainability, energy and water efficiency, climate change adaptation, resilience, environmental justice, and environmental performance. On behalf...

The National Hurricane Center reports that Hurricane Milton is rapidly intensifying over the Gulf of Mexico as it approaches the west coast of Florida. It will be a major hurricane capable of producing life-threatening storm surges and damaging winds. Storm surge and hurricane warnings are now in effect for portions of the Florida coast, and residents should follow local officials’ advice and...

GDP and U.S. Manufacturing Remain Strong, Wages Grow Faster than Prices Earlier today, the U.S. Labor Department’s Bureau of Labor Statistics (BLS) reported that the U.S. economy added over 250,000 new jobs in September – exceeding expectations. To date, 16 million jobs have been created under the Biden-Harris Administration. In addition, the U.S. economy remains strong with an increase in real...

Since taking office, the Biden-Harris Administration has created nearly 16 million jobs, unemployment among Latinos is at a record low, and Latino entrepreneurs have started new businesses at the fastest rate in over 25 years. In honor of Hispanic Heritage Month, Secretary Raimondo and Deputy Secretary Graves participated in two events that both honored these achievements. They reiterated the...

The Biden-Harris Administration’s Internet for All initiative is delivering on its promise to connect everyone in America to affordable, reliable high-speed Internet service by 2030. Since the President took office, more than 2.4 million previously unserved homes and small businesses have been connected to high-speed Internet service. President Biden and Vice President Harris are investing $90...