For Immediate Release
Office of the Press Secretary
April 6, 2007
Fact Sheet: Job Creation Continues - More Than 7.8 Million Jobs Created Since August 2003
March 2007 Marks 43rd Consecutive Month Of Job Growth
Today, The Bureau Of Labor Statistics Released New Jobs Figures – 180,000 Jobs Created In March. Since August 2003, more than 7.8 million jobs have been created, with nearly 2 million jobs created over the last 12 months. Our economy has now added jobs for 43 straight months, and the unemployment rate remains low at 4.4 percent.
More American Workers Are Finding Jobs And Taking Home More Pay
- Real After-Tax Income Per Person Has Risen By 10 Percent – More Than $2,900 – Since President Bush Took Office.
- Real Wages Rose 1.8 Percent Over The Past 12 Months Through February. This is substantially faster than the average rate of the late 1990s economy, and it means an extra $1,080 in the past year for the typical family with two wage earners.
- The Economy Has Now Experienced Over Five Years Of Uninterrupted Growth, Averaging 3.0 Percent A Year Since 2001. Real GDP grew a strong 3.1 percent in 2006.
- Since The First Quarter Of 2001, Productivity Growth Has Averaged 2.8 Percent. This is well above average productivity growth in the 1990s, 1980s, and 1970s.
- In 2006, U.S. Exports (12.7 Percent) Grew Faster Than Imports (10.5 Percent) For the First Time Since 1997.
By Setting Clear Spending Priorities And Keeping Taxes Low, We Can Keep Our Economy Growing
The President Has Submitted A Budget That Eliminates The Federal Deficit Within The Next Five Years Without Raising Taxes. By contrast, Congressional Democrats' recently-passed budget resolutions would raise taxes and increase government spending while failing to address the most serious challenge to our Nation's fiscal health: the unsustainable growth in entitlement programs, like Social Security and Medicare.
- Keeping Our Economy Growing Begins With Keeping Taxes Low. President Bush's tax relief has helped spur economic growth by keeping more money in the pockets of American taxpayers. The American people have used this tax relief to provide for their families, create jobs, and help make America's economy the envy of the industrialized world. The President calls on Congress to keep our economy growing by making his tax relief permanent.
- Keeping Our Economy Growing Requires Spending Tax Dollars Wisely. To help set spending priorities, the President will work with Congress to cut the number and cost of all earmarks at least in half. He also believes Congress should enact a line-item veto to help the legislative and executive branches work together to eliminate wasteful spending.
- Our Growing Economy Gives Us A Chance To Address The Challenge Of Entitlement Spending From A Position Of Strength. Congress needs to live up to its responsibility by coming together to fix Medicare and Medicaid – and save Social Security. If we do not act now, future generations will be faced with three bad options: huge tax increases, huge deficits, or huge benefit cuts.
Keeping Our Economy Growing Also Requires Opening Markets And Expanding Trade. Every time we break down barriers to trade and investment, we open up new markets for American ranchers, farmers, workers, and entrepreneurs. Last year the United States exported a record $1.4 trillion dollars worth of goods and services – making us the largest exporter in the world. As we expand free and fair trade, America enjoys lower prices, better jobs, and increased productivity.
The President Calls On Congress To Extend Trade Promotion Authority So We Can Make Headway On The Doha Round And Other Trade Agreements.
# # #