2012: A Strong Year of Consistent Growth

by Secretary Hilda Solis on January 4, 2013 · 7 comments

For nearly three years, steady gains have occurred across different sectors of the economy. Today’s jobs report marks 34 straight months of private sector job growth, which have added close to 5.8 million jobs. And December finishes a strong year of consistent growth with average increases of about 160,000 private sector jobs per month in 2012.

Monthly Change in Total Private Employment, February 2008 - December 2012

Monthly Change in Total Private Employment, February 2008 - December 2012. Source: Bureau of Labor Statistics, Current Employment Statistics Program.

The economy continued to show signs of strength and resilience throughout a month of fiscal uncertainty. This week’s bipartisan agreement extending tax cuts to protect 98 percent of families and 97 percent of small businesses from any income tax increase is an important step in the right direction. The same is true for the extension of crucial Unemployment Insurance benefits that serve as a necessary lifeline for millions of Americans still struggling to find employment, as well as generate $2 in economic activity for each dollar spent.   

Employment in Major Industries Since the Employment Trough, February 2010 - December 2012

Employment in Major Industries Since the Employment Trough, February 2010 - December 2012. Source: Bureau of Labor Statistics, Current Employment Statistics Program.

There is more work to do to ensure that the steady growth experienced in 2012 continues into the new year. Now is not the time to slow this recovery by failing to address our fiscal challenges and introducing further uncertainty into the economy. As we move forward to address our ongoing fiscal challenges, both spending cuts and continuing to ask the wealthy to do a little more will be part of a balanced approach.

We must continue to grow our economy, create jobs and strengthen our middle class by making investments in training, education and infrastructure.

{ 7 comments… read them below or add one }

1 beverly cornell January 4, 2013 at 6:44 pm

All I can say is Ms Solis allowed me to suffer my pain in silence after housekeeping waxed my chair at the VA. Usdol and Ms Solis were informed of my disability I suffered after my on the injury in 2005 of which I’m still fighting for my benefits due to the facts I’m nolonger able to work due to the severe pain that attacks my body daily.

2 Branko January 4, 2013 at 9:18 pm

Really interesting statistics.

3 Karen L. Oliver - Brown January 5, 2013 at 9:05 pm

I am hoping to add to this new forward progress w/ my “new green joobs & housing” proposal. I am working hard to revolutionize how we use – re- use & recycle plastic grocery bags w/ the inclusion of my proposed invention that bundles 100 – 300 plastic grocery bags effortlessly! I envision that my vision will create @ least ten (10) new green jobs per individual housing project!

Thank you for this very diplomatic process to communciate w/ your agency!
Karen Oliver – Brown

4 Cindy Wu January 7, 2013 at 4:25 am

160,000 private sector jobs per month in 2012 will be grow more this year of 2013. The government taken excellent step to this growing.

5 Brainsmart January 11, 2013 at 10:26 am

I foolowed the White House Summit on Community colleges and have to say how encouraged i was by the quality of the debate and the high regard these types of edu establishments are held .Gave me a whole new appreciation for thier value

6 rani sharma January 12, 2013 at 1:43 am

ya definitely 2012 year is a better growth only in developed countries but in the case of under development countries ???

7 Satrap Darabi April 21, 2013 at 11:53 pm

I really hope reports like this would be more highlighted by the media, as I think the mere fact of seeing this report will help the economy grow more. Why? Because people and businesses are more likely to spend and hire when they are more confident in the over all economy. Thanks.

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