US continues to outpace most of the world: Obama

Washington: US President Barack Obama on Friday said that the US continues to outpace most of the world, even as it has been a long road to recovery from the worst economic crisis.“It's been a
us continues to outpace most of the world obama -...
PTI 06 Dec 2014, 14:11:57 PM IST

Washington: US President Barack Obama on Friday said that the US continues to outpace most of the world, even as it has been a long road to recovery from the worst economic crisis.

“It's been a long road to recovery from the worst economic crisis in generations, and we still have a lot more work to do to make sure that hardworking Americans' wages are growing faster. But the US continues to outpace most of the world,” Obama said at a White House event after the release of the latest monthly employment report.

“Over the last four years, we've put more people back to work than Europe, Japan, and all other industrialised advanced countries combined. And we're going to keep at it until every single American who is willing and able to work can find not just any job, but a job that pays a decent wage and allows them to support their families,” Obama said.

According to the latest monthly employment report, in November America's businesses created more than 300,000 jobs.

“This keeps a pace so far this year that we have not seen since the 1990s. So far this year, over the first 11 months of 2014, our economy has created 2.65 million jobs. That's more than in any entire year since the 1990s. Our businesses have now created 10.9 million jobs over the past 57 months in a row. And that's the longest streak of private sector job growth on record,” he said.

“We also know that the pickup in the pace of job growth this year has been in industries with higher wages. Overall, wages are rising — a very welcome sign for millions of Americans. So we've got an opportunity to keep up this progress if Congress is willing to keep our government open, avoid self- inflicted wounds, and work together to invest in the things that support faster job growth in high-paying jobs. That means exports, infrastructure, immigration reform, streamlining our tax code, giving minimum wage workers a raise,” Obama said.

American economy, he said, is making real progress.

“If we can continue in this trajectory, if we can continue to grow robustly, and if we make sure that those companies who are seeing profits — they're probably higher than any time in the last 60 years — that they're also making sure that their workers are sharing in that growth, then we can get a virtuous cycle that's really going to make a difference and be a critical component of strengthening our national security, because national security starts with a strong economy here at home,” Obama said.

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