The FINANCIAL -- The U.S. Chamber of Commerce on November 6 reminded policymakers and all Americans about the central role the nation's free enterprise system must play in turning around the country's jobless rate.
The comments come in response to new Labor Department statistics released today that put America's national jobless rate at just over 10 percent—a threshold last passed over 25 years ago. Government economists also say they expect the jobless rate to climb yet higher next year. This report comes despite the government's recent statement that the economy grew at a 3.5 percent annual rate in the July-September quarter, indicating a rebound in the economy—but not one strong enough to turn the tide on employment.
"In order to dig out of this employment hole, we need a period of sustained and significant economic growth," said Marty Regalia, Chief Economist for the U.S. Chamber of Commerce. "Only through a vibrant, free enterprise system can we achieve growth on the scale we need to turn these jobs numbers around."
The new jobless data is another reminder of the need for the U.S. Chamber's recently launched American Free Enterprise. Dream Big. campaign. The campaign, launched last month, is designed to remind Americans about the many benefits of free enterprise and to encourage Americans and our leaders to foster a climate for free enterprise to flourish and create more than 20 million new jobs.
"Our American free enterprise system has created more economic benefits for more people over a more prolonged period of time than any other system in history," said the Chamber's Dream Big Campaign Director, Brian Gunderson. "Americans across the nation are joining the movement for free enterprise, pledging their support for a strengthened free enterprise system, and doing their part to dream big and work hard to meet the urgent national job creation challenge."
The campaign is already off to a strong start. A successful launch event on October 14th kicked off an inspirational national advertising campaign and thousands of supporters are joining the movement and pledging their support via a dynamic and interactive website.
A series of events will be held in the coming weeks across the country to announce state-by-state job growth goals and to convene discussions about challenges and solutions to meeting the jobs challenge. The first state jobs challenge will take place November 11th in Chicago, Illinois. Subsequent challenges will be issued in Oregon, California and Alabama over the coming weeks. On November 16th in Washington, DC, the National Chamber Foundation and the American Enterprise Institute will hold a discussion forum on the key barriers to creating essential jobs. Plans are also underway to showcase the role of individual business leaders through an online video contest and the DREAM BIG Small Business of the Year award.
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