"For millions of Americans, this recession won’t be over until new businesses can open their doors and existing businesses can expand and create new jobs" -Oregon Senator Jeff Merkley
(WASHINGTON D.C.) - Today the Commerce Department announced that the economy grew for the first time in a year. Gross Domestic Product (GDP) grew at an annual rate of 3.5 percent in the last three months, after falling 0.7 percent in the second quarter and 6.5 percent in the first quarter of 2009.
According to the Council of Economic Advisers, the American Recovery and Reinvestment Act contributed between three and four percentage points to GDP growth.
Oregon’s Senator Jeff Merkley released the following statement:
“I’m gratified that after a year of economic decline, the economy is finally growing again. However, GDP growth is not our measure of success, the creation of good jobs at good wages is. For millions of Americans, this recession won’t be over until new businesses can open their doors and existing businesses can expand and create new jobs. In order to turn this recession around on Main Street, we need to get people back to work and restore economic security for our families.”
Merkley: GDP Growth a Good Sign for Economy but Focus Must Remain on Job CreationSalem-News.com