Over the past 54 months, more than 10 million jobs have been created in America, the country’s longest streak of private sector job growth in history.
Nonfarm payroll increased by 142,000 positions in August with 134,000 of them coming from the private sector. Over the past year, employment in the private sector has increased by 2.4 million positions.
According to the White House blog, improvements in the auto industry, overseas sales, homebuilding and American consumer spending are among the factors that led to the record job growth.
Improvements in the auto industry went from an all-time low in 2009 to almost 800,000 more automobiles produced each month is 2014. Auto companies are currently on-pace to produce their highest number of vehicles since 2002.
Another American accomplishment is the number of overseas sales that businesses are producing each month. Exporting American products and services has brought in about $70 billion more per month than in 2009.
Homebuilders are also beginning to reach pre-recession sales numbers. More than 50,000 new homes have been built each month than were being built in 2009.
American consumers are also spending more money today than they were in 2009, about $170 billion more each month.
President Barack Obama plans to continue his “year of action” with a focus on the manufacturing and energy industries, according to the White House blog. He also plans to work toward improving the financial situation of working American families.
The blog post by the White House isn’t the only study showing positive improvements in the American workforce. Recent Gallup studies also show increases in job growth and American consumer spending.
Statistics from the U.S. Bureau of Labor Statistics (BLS) also support the increase in job growth in the country.
