Jobs & The Economy: Putting America Back to Work
“It is our generation’s task, to reignite the true engine of America’s economic growth —
a rising, thriving middle class,”
The Obama Administration is working together with policymakers and private industry to safely grow our economy, while creating jobs and helping small businesses thrive.
President Obama believes this is a make or break moment for the middle class and those trying to reach it, and he has laid out a blueprint for an economy that's built to last - an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.
President Obama believes we have to do more than just recover from this economic crisis. We have to create true middle class security by out-innovating, out-educating, and out-building the world. And we need to strengthen small businesses, which are the backbone of our economy and critical to job creation and sustained economic growth.
From day one, President Obama has focused on efforts that can help small businesses grow and expand – that’s why he’s cut taxes for small businesses, helping them hire, invest in new equipment, and pay for health care coverage for their employees. And that’s why he secured a bipartisan agreement to continue existing tax cuts for an additional two years, an agreement that outside economists said would create hundreds of thousands of new jobs.
In response to the worst economic crisis since the Great Depression, President Obama signed the American Recovery and Reinvestment Act, which helped to create jobs while making the investments we need to create true economic security for the middle class. According to the non-partisan Congressional Budget Office, the Recovery Act supported as many as 3.5 million jobs across the country by the end of 2010.
When the President took office, the American auto industry was shedding jobs by the hundreds of thousands and GM and Chrysler faced the possibility of liquidation – which would have caused at least 1 million more jobs to be lost. The President made the tough choice to help provide the auto industry the temporary support it needed to grow and prosper. Two years later, GM, Ford, and Chrysler are all adding jobs, generating profit, and investing in their U.S. facilities.
Businesses have created more than 5.4 million private sector jobs in the past 32 months. Learn more ...
After nearly collapsing, the U.S. auto industry has added nearly 250,000 jobs -- the fastest pace of job growth in more than a decade. Learn more ...
American manufacturers have added more than 500,000 jobs since January 2012, the strongest period of job growth since 1989. President Obama wants to boost that trend. Learn more ...
Since 2009, the Small Business Administration has helped distribute more than $93 billion in loans for 166,000 small businesses. Learn More ...
President Obama’s middle-class tax cuts, first signed into law in December 2010, are providing tax relief for 160 million workers to help jumpstart the economy. For the typical family, that's $40 extra with each pay check. Learn more ...