We Do Better When the Middle Class Does Better
Hi, everybody. I’m at Millennium Steel in Princeton, Indiana,
to have a town hall with workers on National Manufacturing Day. Because in
many ways, manufacturing is the quintessential middle-class job. And after
a decade of losing jobs, American manufacturing is once again adding them –
more than 700,000 over the past four and a half years.
In fact, it’s been a bright spot as we keep fighting to
recover from the great recession. Last month, our businesses added 236,000
new jobs. The unemployment rate fell to under six percent for the first
time in more than six years. Over the past 55 months, our
businesses have added 10.3 million new jobs. That’s
the longest uninterrupted stretch of private sector job creation in our
history. And we’re on pace to make 2014 the strongest year of job growth
since the 1990s.
This
progress has been hard, but it has been steady, and it is real. It is a
direct result of the American people’s drive and determination, and decisions
made by my administration.
During the last decade, people thought the decline in
American manufacturing was inevitable. But we chose to invest in
American auto industry and American workers. And today, an auto industry
that was flat lining six years ago is building and selling new cars at the
fastest pace in eight years. American
manufacturing is growing almost twice as fast as the rest of the economy, with
new factories opening their doors at the fastest pace in decades. That’s
progress we can be proud of.
What’s
also true is that too many families still work too many hours with too little
to show for it. And the much longer and
profound erosion of middle-class jobs and incomes isn’t something we’re going
to reverse overnight. But there are ideas we should be putting into
place that would grow jobs and wages faster right now. And one of the best
would be to raise the minimum wage.
We’ve actually begun to see some modest wage growth in recent
months. But most folks still haven’t seen a raise in over a
decade. It’s time to stop punishing some of the hardest-working Americans. It’s time to raise the minimum wage. It would put more
money in workers’ pockets. It would help 28 million
Americans. Recent surveys show that a majority of small business owners
support a gradual increase to ten dollars and ten cents an hour. The folks
who keep blocking a minimum wage increase are running out of
excuses. Let’s give America a raise.
Let’s do
this – because it would make our economy stronger, and make sure that growth is
shared. Rather than just reading about our recovery in a headline, more
people will feel it in their own lives. And that’s when America does best. We do better when the middle class does better, and
when more Americans have their way to climb into the middle class.
And that’s what drives me every single day. Thanks, and have
a great weekend.
Source:
whitehouse.gov
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