The President discussed some of the achievements of his administration and some good news on the economy. We have been hit but with an improvement in the economic landscape we can help a lot of people improve their lives and strengthen their country through the sheer will of people who wanting to return back to work and engage in the economy. This is one of the reasons why I support economic development, especially locally based clusters, to help communities of different backgrounds to grow and develop.
The unemployment rate is improving and we restored about half of the jobs that were lost. Having broad based improvements often means it is hitting a wide group of people versus being focused in individual sectors or demographics. One way to look at this as well is to review increases in minority communities to see how the recovery is impact people of different backgrounds. We have entered the world of big data and how it can help us understand our environment.
Economic development can bring improvement and strength organically through local strengths when we focus on SME development in areas where existing networks can be enhanced (clusters) to realign communities to the global market by finding their niche from the ground level from the entrepreneurs that need access to capital.