Lates News

U.S. Treasury Secretary Janet Yellen posted on social media, stating: The employment report released today underestimates the potential strength of the real economy: American businesses are building, factories are producing, and worker productivity is improving. July marks the fifth consecutive month of job growth in the goods-producing sector. So far this year, the goods-producing sector has created 105,000 jobs, achieving the strongest start in seven months since 2023. Moreover, the growth rate of productivity in the second quarter exceeded expectations by more than double, creating favorable conditions for sustainable growth in the U.S. economy and real wage increases for American workers. The strong growth expectations for the third quarter further indicate that the U.S. economy is likely to accelerate. As America produces more goods and worker productivity continues to rise, the domestic economy will benefit: wages will be higher, businesses will be stronger, consumers will have more choices, and economic expansion will be built on supply-side strength that can lower inflation, rather than relying on fleeting stimulus effects.