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Press Release

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FOR IMMEDIATE RELEASE

CONTACT OFFICE OF PUBLIC AFFAIRS

Friday May 2, 2008

202-482-4883

Statement by Secretary Gutierrez on April’s Employment Report

WASHINGTON—Commerce Secretary Carlos M. Gutierrez today released the following statement on the April Employment Report, which showed that the unemployment rate is 5.0 percent:

“Any monthly downtick in jobs is disappointing, but we are expecting a challenging first half and the losses were better than forecast. With the unemployment rate falling and continued GDP growth, the resilient U.S. economy continues to withstand stiff winds.

“Today’s report underscores the significance of continuing efforts to strengthen our economy. With quick action by the President and bipartisan economic stimulus legislation earlier this year, we are addressing the immediate and long term needs of our economy. Americans have started to receive their tax rebates and businesses are already taking advantage of the incentives. The stimulus plan will inject more than $150 billion into the economy by putting money back in the hands of workers and is expected to help create over a half million jobs by the end of this year.

“Congress needs to do its part to help our economy by passing housing legislation to help struggling homeowners, making the tax cuts permanent so families and businesses can plan with certainty, and voting on the Colombian Free Trade Agreement to level the playing field for American exporters. Small businesses create over two-thirds of all new jobs in America, so we should further expand our markets to help these businesses.”