I wanted to share our country's economic situation, which continues to
improve as more optimistic data persists in every corner of the
country. I hope you will find this information useful.
According to the Labor Department, Texas was one of 25 states to have
lower unemployment rates than the national average in May. Over the
year, Texas added over 200,000 jobs – the largest nationwide. There is
also promising news for areas in the district as hiring continues.
Unemployment fell in more than 90 percent of the nation's largest
cities in April, including Laredo, McAllen, Edinburg and Mission.
Various business and service sectors also experience a boost in job
creation. Health care employment continued to grow in May, adding
17,000 jobs and business services sectors also experience job gains by
adding more than 44,000 employees to the workforce, according to the
U.S. Bureau of Labor Statistics.
In considering our economic improvement since recovery began, Texas
leads the nation in percentage of jobs created nationwide – 37% of all
American jobs were created in Texas, according to the Federal Reserve
Bank of Dallas study.
Earlier this month, the Federal Reserve Bank of Dallas reported that
our regional district's economy, which includes all of Texas, expanded
at an accelerated rate over the prior six weeks, particularly in the
energy sector. Also, consumer credit nationwide increased by $6.25
billion, which marks the 7th consecutive monthly increase.
Nationally, manufacturing grew in most parts of the country and
consumer spending was steady or modestly higher than in previous
months as the job market continued to gradually improve, according to
a report released by the Federal Reserve on June 8. Exports also rose
to $175.6 billion, the most on record. Goods and services exported
increased since March according to the Bureau of Economic Analysis,
thereby shrinking the trade deficit. Further, the U.S. continues to be
a home for foreign investment – from 2009 to 2010, direct foreign
investment jumped 49%. National openness to investors from Mexico and
internationally plays a vital role for the 5.7 million worker it
supports and our growing business environment.
Our economic conditions affect families and the nation every day, so I
will continue to ensure that Americans stay employed and families fair
steadily as our nation moves to economic prosperity.
As always, it is my honor to represent you in Congress. If I can be of
assistance to you, please do not hesitate to contact our offices
throughout the 28th District of Texas or in Washington, D.C.
Sincerely,
Congressman Henry Cuellar
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Congressman Henry Cuellar is a member of the U.S. House Homeland
Security and Agriculture Committees in the 112th Congress.
Accessibility to constituents, education, health care, economic
development, and national security are his priorities. Congressman
Cuellar is also a Senior Whip and member of the Blue Dog Coalition.
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