The Corner

The White House On the Economy

Here’s the opening of the WH’s press release on the economy:

Job Creation Continues – More Than 6.8 Million Jobs Created Since August 2003

Today, The Government Released New Jobs Figures – 92,000 Jobs Created In October.  The unemployment rate decreased to 4.4 percent, the lowest rate since May 2001.  Payrolls have now increased 470,000 over the past 3 months and more than 1.9 million over the past 12 months.  Since August 2003, more than 6.8 million jobs have been created – more jobs than all the other major industrialized countries combined.  Our economy has now added jobs for 38 straight months.

The American Economy Remains Strong And Continues To Grow

•      Real Wages Grew 2.4 Percent Over The Past 12 Months.  This means an extra $755 for the average full-time production worker or about $1,327 for the typical family of four with two wage earners.

•      Real After-Tax Income Per Person Has Risen By 9.8 Percent – $2,660 – Since The President Took Office.

•      Our Economy Has Grown A Solid 2.9 Percent Over The Past Four Quarters – Faster Than Any Other Major Industrialized Country.

•      Productivity Has Grown At An Annual Rate Of 3 Percent Since The First Quarter Of 2001, Up From A 2.4 Percent Annual Rate During The Preceding Five Years.

•      Gas Prices Have Fallen Almost 82 Cents A Gallon Since Early August.

•      Employment Has Increased In All But One State Over The Past 12 Months Ending In September.


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