Commerce at a Glance: August 15, 2022

The Latest News

Readout of Deputy Secretary Don Graves' Meeting with Puerto Rico Governor Pedro R. Pierluisi

Deputy Secretary of Commerce Don Graves met with Puerto Rico Governor Pedro R. Pierluisi to announce the intent of the federal government, in partnership with the government of Puerto Rico, to hold an Economic Dialogue in Washington, D.C. this fall. As part of the Administration’s ongoing commitment to Puerto Rico’s economic prosperity, we are also announcing that Deputy Secretary Don Graves will serve as the Puerto Rico Economic Growth Coordinator.

Readout of Secretary Raimondo’s Meeting with Australian Minister for Trade and Tourism Don Farrell

Secretary of Commerce Gina Raimondo held a first in-person meeting with Australian Minister for Trade and Tourism Don Farrell to congratulate him on his appointment as Minister earlier this summer. The two discussed shared priorities for the Indo-Pacific Economic Framework for Prosperity (IPEF), as well as achievements and next steps under the U.S.-Australia Strategic Commercial Dialogue (AUSSCD) aimed at strengthening supply chain resiliency in critical minerals; promoting sustainable investments; and addressing non-market policies. .

Statement from U.S. Secretary of Commerce Gina Raimondo on Signing of CHIPS and Science Act

U.S. Secretary of Commerce Gina M. Raimondo released the following statement following President Biden’s signing of the CHIPS and Science Act of 2022.

“Today, President Biden signed into law a historic investment that will help revitalize the U.S. domestic manufacturing economy, spur research and development in critical industries, and enable us to continue outcompeting and out-innovating the rest of the world. This could not have come at a more urgent moment. These investments will create high-quality, good-paying jobs for hundreds of thousands of Americans, secure American supply chains, and protect America’s global leadership for decades to come."

U.S. Department of Commerce Announces Don Cravins Jr. as First-Ever Under Secretary of Commerce for Minority Business Development

U.S. Secretary of Commerce Gina Raimondo announced that Donald R. Cravins, Jr. will be the first-ever Under Secretary of Commerce for Minority Business Development for the U.S. Department of Commerce’s Minority Business Development Agency (MBDA). Under Secretary Cravins will lead MBDA in its service of the nation’s 9.7 million minority business enterprises (MBEs) following the agency’s historic elevation in authority and influence as mandated by the Minority Business Development Act of 2021.

U.S. Secretary of Commerce Gina Raimondo and U.S. Secretary of Labor Marty Walsh Launch Job Quality Toolkit

The U.S. Department of Commerce launched the Job Quality Toolkit, which provides strategies and actions to help small-and-medium-sized organizations recruit and retain a high-performing workforce. The Toolkit also includes eight case studies of organizations that have committed to increasing the quality of the jobs they offer.

U.S. Department of Commerce Announces Winners of American Rescue Plan $500 Million Good Jobs Challenge to Expand Employment Opportunities

U.S. Secretary of Commerce Gina Raimondo announced grant awards to 32 industry-led workforce training partnerships across the country as part of the $500 million Good Jobs Challenge funded by President Biden’s American Rescue Plan. The Good Jobs Challenge is administered by the Commerce Department’s Economic Development Administration and will enable communities across the country to invest in innovative approaches to workforce development that will secure job opportunities for more than 50,000 Americans.

NIST Launches New iEdison System for Reporting Federally Funded Inventions

To promote the transfer of technology from laboratory to marketplace, the Department of Commerce’s National Institute of Standards and Technology (NIST) has redesigned the online platform where organizations report their taxpayer-funded inventions. The new Interagency Edison system, or iEdison, includes a modernized user interface and new functionality and security features that will make it easier for government grantees and contractors to comply with the reporting requirements of the Bayh-Dole Act.

Tribal High-Speed Internet Grant Program Adds $1 Billion in Funding from Bipartisan Infrastructure Law

Assistant Secretary for Communications and Information Alan Davidson, during an official visit to Alaska, announced that the National Telecommunications and Information Administration (NTIA) has added $1 billion from President Biden’s Bipartisan Infrastructure Law to the current Tribal Broadband Connectivity Program (TBCP) funding period, which closes September 1, 2022, part of the Biden-Harris Administration’s commitment to investing in affordable high-speed Internet for All.

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Around Commerce

Journeys of Innovation: A Family of Entrepreneurs

With a combination of family encouragement, support, and hands-on invention education, brothers Mika’il and Ayaan Naqvi, following in the footsteps of three generations of entrepreneurs, teamed up to navigate their way from an idea to a business.

Develop Risk Management Strategies

The COVID-19 pandemic brought to light a stark reality about current supply chains. As Nissan Motor Co.’s Chief Operating Officer Ashwani Gupta points out, “The just-in-time model is designed for supply-chain efficiencies and economies of scale.

Launch Good Jobs Challenge

The U.S. Economic Development Administration announced its award of a $4.6 million grant to Jobs for the Future to coordinate and lead a national Community of Practice

AI May Come to the Rescue of Future Firefighters

In firefighting, the worst flames are the ones you don’t see coming. Amid the chaos of a burning building, it is difficult to notice the signs of impending flashover

Commerce by the Numbers

Wealth Inequality in the U.S. by Household Type
Wealth inequalities persisted in 2019, according to the latest Survey of Income and Program Participation (SIPP) data released in October 2021. Wealth is the value of assets owned minus the liabilities (debts) owed.

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June 2022 Trade Gap is $79.6 Billion

The U.S. monthly international trade deficit decreased in June 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $84.9 billion in May (revised) to $79.6 billion in June, as exports increased and imports decreased.

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Manufacturing Pay, Job Prospects Increase With Industry "Credential"

Earning a manufacturing credential may increase your earnings and prospects of getting work in manufacturing even without a college degree, according to new U.S. Census Bureau research conducted in collaboration with the National Association of Manufacturers, Manufacturing Institute and National Student Clearinghouse.

What is a manufacturing credential? →

Patent Public Search Tool – A Streamlined Way to Search All U.S. Published Patent Application

As part of our ongoing effort to modernize and streamline our systems, earlier this year, we unveiled an all new Patent Public Search (PPUBS) tool. PPUBS is a free online search tool for all U.S. published patent applications and patent grants. Currently, approximately 4,500 users are conducting patent searches with PPUBS each day in the U.S. and internationally, and close to 350,000 people have used PPUBS since it launched.

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NOAA Still Expects Above-normal Atlantic Hurricane Season

Atmospheric and oceanic conditions still favor an above-normal 2022 Atlantic hurricane season, according to NOAA’s annual mid-season update issued today by the Climate Prediction Center, a division of the National Weather Service.

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