Job Growth and the Financial Services Industry

During his State of the Union speech the President said, ‘In the last 22 months, businesses have created more than three million jobs. Last year, they created the most jobs since 2005.’ All of those jobs were made possible by the backing of America’s financial services industry. Despite any rhetoric to the contrary, the facts are that America’s financial institutions share an interdependent relationship with the same businesses that are creating new jobs for America’s recovery.

Job creation doesn’t happen in a vacuum. As the President said, manufacturing jobs have increased, but so has commercial and industrial lending, which just went up $44.8 billion in the third quarter of 2011 — the fifth straight quarter such lending balances have risen.

About Steve Bartlett

Steve Bartlett is President and CEO of The Financial Services Roundtable, and has served in that role since June 1999. Previously, he was the Mayor of Dallas, Texas (1991-95), a Member of the United States Congress (1983-91), and on the Dallas City Council (1977-81). At The Financial Services Roundtable, Mr. Bartlett has had a major impact on legislation including Gramm-Leach-Bliley, E-SIGN, the 2001-2003 Tax Cuts, the Fact Act (FCRA), Class Action Reform, consumer bankruptcy reform, regulatory reform and TARP.
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