What's Happening?
The Department of Commerce (DOC) is a Cabinet-level executive department of the U.S. government focused on promoting economic growth, trade, and job creation. The department works closely with businesses, universities, and communities to stimulate jobs through sustainable development, favorable international trade terms, and high technology accessibility. The DOC consists of several bureaus and offices, including the U.S. Census Bureau, the U.S. Patent and Trade Office, and the Bureau of Economic Analysis. Established in 1903 as part of the Department of Commerce and Labor, it became a standalone department in 1913. The current Secretary of Commerce is Gina Raimondo, who was sworn in in 2021.
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Why It's Important?
The Department of Commerce plays a crucial role in shaping the U.S. economy by fostering conditions for economic growth and job creation. Its initiatives in trade, technology, and sustainable development are vital for maintaining the country's competitive edge in the global market. By working with various stakeholders, the DOC helps ensure that economic policies are aligned with the needs of businesses and communities, thereby enhancing the overall standard of living. The department's efforts in data collection and technological standard-setting are particularly significant in driving innovation and supporting economic vitality.
