Labor Secretary Tom Perez says President Obama deserves credit for helping to turn around the U.S. economy.

FOX's Jon Decker has more from the White House:

In a so-called exit-memo to the American people, Labor Secretary Tom Perez praised the President for helping to turn around the U.S. economy in the past eight years, revitalizing the U.S. auto industry, which was on the brink of collapse and providing over the creation of more than 15 million private sector jobs since February of 2010.

But, Perez acknowledged that despite a strong recovery, too many people are not yet able to share fully in America's prosperity.

Perez also had some advice for President-elect Donald Trump, urging his support on increasing the federal minimum wage from its current level of $7.25 an hour.

At the White House, Jon Decker, FOX News.