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Blog Category: National Association of Seed and Venture Funds

EDA: Working with the Private Sector to Create Jobs

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Guest blog post by by John Fernandez, Assistant Secretary of Commerce for Economic Development, Department of Commerce

The Obama administration is collaborating with the private sector in an unprecedented way to promote American innovation, ignite entrepreneurship, and spur small business development to get the economy moving and put people back to work.

And we are seeing results. Private sector payrolls increased by 137,000 in September. And despite a slowdown in economic growth from substantial headwinds experienced throughout the year, the economy has added private sector jobs for 19 straight months, for a total of 2.6 million jobs over that period. While the economy is growing modestly, we understand that it is not fast enough for Americans who are struggling to make ends meet.

That is why it is more important than ever for the federal government to work with industry to create new jobs.