Today, the U.S. Bureau of Labor Statistics released the November jobs report.
We learned that unemployment dropped from 7.3% in October to 7.0%, the lowest rate in 5 years. The report also showed that 203,000 jobs were added to the U.S. economy, despite economists predicting only 180,000.
These numbers are significant — that’s why we’re hosting a webinar for business leaders on Monday with the U.S. Department of Labor’s Chief Economist, Dr. Jennifer Hunt.
Here are the details:
What: Business Leader Webinar with Chief Economist Dr. Jennifer Hunt
When: Monday, December 9 at 4:00 p.m. ET
Where: Your computer
Don’t forget to RSVP: https://attendee.gotowebinar.com/register/1173104494910970882
Saturday, November 30th marked the third annual Small Business Saturday, a day for consumers to support local businesses at the start of the holiday shopping season.
This year, shoppers spent $5.7 billion at local businesses on Small BusinessSaturday – a 3.6 percent increase from 2012 revenue.
While Black Friday and Cyber Monday are well-known days for retail, Small Business Saturday has struggled in past years to gather attention. With the help of social media, awareness of Small Business Saturday increased this year.
Shoppers and business alike were encouraged to share their Small BusinessSaturday plans using the hashtags #SmallBizSat and #ShopSmall, and customers used Foursquare to “check in” at their local businesses to receive recommendations for nearby participating shops and restaurants.
In part because of this additional online awareness, consumer research released earlier this week shows that familiarity with Small Business Saturday increased across the United States from 67 to 71 percent in the last year. More than half of those aware of Small Business Saturday made purchases at their local businesses.
Thriving small businesses across the country are essential for our nation’s economic growth. 23 million American small businesses have been responsible for 66 percent of all net new jobs since the 1970s and account for 54 percent of all sales within the country.
As Small Business Saturday continues to generate more support each year, administration officials joined Americans from across the country in supporting the local businesses that are the backbone of our economy.
Check out the Storify from the White House to see photos from 2013 Small Business Saturday.
Two years ago, I facilitated a roundtable discussion in the Dallas-Ft. Worth area. The discussion featured a senior official from the State Department and leaders from the local business community. The official listened as we talked about their ideas for growing the economy.
What struck me was not only the content of the discussion, but also who sat around the table. Executives from Mary Kay, American Airlines, Hilton Worldwide, a small local ground transportation firm and other representatives from different area businesses from various sectors and sizes discussed the challenges and opportunities they saw for their businesses. The executives raised issues around particular barriers to their growth and provided valuable insight about the economy just two years into our recovery. They asked the official questions about what he encountered in his travels around the world as he advocated for American business.
During my visit to Dallas, 50 Mary Kay trainees from Korea were in town for some workshops. The Mary Kay executive explained how the women flew from Seoul to Dallas on American Airlines, stayed at a Hilton hotel, and used the local ground transportation company to move around town.
During my tenure at Business Forward, from day one through last week, I heard about these kinds of intersections from tens of thousands of business leaders around the country, but the companies in Dallas painted an especially vivid picture of the local economy. The Dallas event illustrated why we all must work together -- small, mid-sized and big businesses -- to forge a stronger economic future.
These businesses did not succeed in isolation or by themselves, and they all recognized the importance of a strong ecosystem that fostered the opportunity for everyone to benefit. They even acknowledged the importance of certain regulations.
The opportunity for these local business leaders to come together as one community to share their hopes and concerns with a senior Administration official would not have happened but for Business Forward. Hilton Hotels wouldn’t have 50 Korean customers from Korea staying at its hotel if American Airlines and the local limousine company did not get them there safely. Mary Kay couldn’t sell its products to a market so far away if visa restrictions made it hard for the trainees to visit the United States.
I'm proud of what we've accomplished, but our work isn't done. I can't wait to see what we do next.
Tackling climate change is more than just a moral imperative -- it makes good economic sense.
Business leaders in Charleston, SC met this week with Dan Poneman, Deputy Secretary of the U.S. Department of Energy to discuss ways in which American businesses can innovate the solutions needed to protect our environment, reduce harmful pollution and promote economic growth.
Small business owners at the roundtable briefed the Deputy Secretary on the challenges their communities face as extreme weather events intensify. Though long familiar with hurricanes that affect the coastline annually, climate change makes for even greater challenges for South Carolina businesses. Sea level rise, increasing intensity of storms, and higher storm surge and flooding puts coastal communities in the Southeast at even larger risk.
The Deputy Secretary talked with business leaders about details in the President’s Climate Action Plan -- specifically how reducing carbon pollution can promote job growth and create new industries focused on cleaner, more efficient energy technologies made here in America.
As extreme climate trends continue to cause increasingly worse damage to U.S. energy infrastructure, the business community is speaking out. Add your email to stay up-to-date on climate and energy issues affecting business.