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Estimating County-Level Regional Price Parities from Public Data

Blog
The idea that prices differ by place is a well-known economic concept. Most consumers could easily identify that a day in New York City would cost more than an identical day in rural Texas. To quantify these price differences, the Bureau of Economic Analysis (BEA) publishes regional price parities (RPPs) . By using a weighted average of goods and services across places in a given year, RPPs allow...

During Women’s History Month, Commerce Secretary Gina Raimondo Spotlights Need to Increase Women’s Representation Across Industry

Blog
Women make a difference in the lives of Americans every day and are a critical part of the U.S. economy. During Women’s History Month, Commerce Secretary Gina Raimondo echoed this sentiment at various events that both celebrated the vast contributions of women and stressed the importance of advancing women’s full and equal participation in building a more resilient and innovative economy. Through...

Women in STEM: Representation Matters

Blog
By Laurie Locascio , Under Secretary of Commerce for Standards and Technology and director of the National Institute of Standards and Technology (NIST) Growing up as a scientist, I did not see role models who looked like me. I grew up in a small town where my father was a physicist — and my role model. He nurtured me to be a scientist just like him. I am so grateful he did not have different...

By the Numbers: U.S. Economy Adds Over 275,000 Jobs in February Exceeding Expectations

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GDP Remains Strong, Wages and Personal Income Continue to Rise Earlier today, the U.S. Labor Department’s Bureau of Labor Statistics (BLS) reported that the U.S. economy added over 275,000 jobs in February – far exceeding expectations. To date, nearly 15 million jobs have been created under President Biden and unemployment has remained under 4 percent—the longest stretch in more than 50 years....

One Year Later: Secretary Raimondo Reiterates Need for America to Lead on CHIPS in Protecting America’s Economic and National Security

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Emphasizes Need to Produce Leading-Edge Chips for AI One year ago, U.S. Secretary of Commerce Gina Raimondo delivered a speech at Georgetown University’s School of Foreign Service where she outlined her vision in implementing President Biden’s historic CHIPS and Science Act. Last week, she provided an update on its implementation and announced that future projects will be prioritized based on...

Build Back Better Challenge Awardee Works to Ensure Black Community Thrives in an AI-Powered Economy

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In conjunction with Black History Month, Commerce Deputy Secretary Don Graves recently released the U.S. Department of Commerce’s 2023 update to its Equity Action Report at a White House Convening on Equity . Among the plan’s highlights was the Economic Development Administration’s (EDA) stewardship of $3 billion in funding distributed to 780 diverse grantees — many working at the forefront of...

Creating an Equitable Economy for all Americans

Blog
The mission of the U.S. Department of Commerce is to create the conditions for inclusive economic growth and opportunity for all Americans. Last week, in conjunction with Black History Month, Commerce Secretary Gina Raimondo and Deputy Secretary Don Graves participated in several events that echo this mission and showcase the Department’s leading role in building an economy in which all can...

Commerce Secretary Gina Raimondo Hosts Launch of HBCU CHIPS Network to Build a Skilled and Diverse Workforce in Producing Semiconductors

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Network Expected to Provide Access and Opportunity for Black Americans Coinciding with Black History Month, Commerce Secretary Gina Raimondo hosted the launch of the HBCU CHIPS Network yesterday, a collaboration between several Historically Black Colleges and Universities (HBCUs) and the Georgia Institute of Technology. This collaboration will help coordinate the resources of these colleges and...