Obama: U.S. private sector sees strongest job growth since 1999

Barack Obama

Barack Obama

President Obama said last week that the country has seen the strongest private sector job growth since 1999, adding that U.S. businesses have created 7.2 million new jobs over the past 40 months.

“[T]oday, we sell more products made in America to the rest of the world than ever before,” Obama said. “Our exports have surged. We produce more natural gas than any country on Earth. We’re about to produce more of our own oil than we buy from overseas. That’s the first time that’s happened in nearly 20 years. The cost of health care is growing at its slowest rate in 50 years.  And our deficits are falling at the fastest rate in 60 years. So you’ve got health care costs starting to slow down, deficits plummeting — jobs up, exports up, energy production up.”

Obama said the “grit and resilience of the American people” have helped to improve the post-financial crisis economy.

“And with the revolutions that are coming in energy and technology and manufacturing and health care, we’re poised to be able to finally reverse some of those forces that were hurting middle-class families for so long,” Obama said. “We can start rebuilding an economy where everybody who works hard can get ahead. That’s our goal.”

Additionally, Obama said failing to make investments to ensure America’s competitiveness is comparable to “waving the white flag of surrender to other countries as they forge ahead in this global economy.”

“That kind of attitude is saying there’s nothing we can do to help middle-class families compete and win and grow, Obama said. “And that’s a bad bargain for the middle class…  I want you involved in this debate and [to] remind Washington what’s at stake.”

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