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 Home > News & Policies > June 2007

For Immediate Release
Office of the Press Secretary
June 1, 2007

Fact Sheet: Job Creation Continues - More Than 8 Million Jobs Created Since August 2003
May 2007 Marks 45th Consecutive Month Of Job Growth

     Fact sheet In Focus: Jobs & Economy

Today, The Bureau Of Labor Statistics Released New Jobs Figures – 157,000 Jobs Created In May. Since August 2003, more than 8 million jobs have been created, with more than 1.9 million jobs created over the twelve months ending in May. Our economy has now added jobs for 45 straight months, and the unemployment rate remains low at 4.5 percent.

American Workers Are Finding Jobs And Taking Home More Pay

  • Real After-Tax Per Capita Personal Income Has Risen By 10.2 Percent – More Than $3,000 Per Person – Since President Bush Took Office.
  • Real Wages Rose 1.1 Percent Over The 12 Months Ending In April. This is faster than the average rate during the 1990s, and it means an extra $672 in the past year for the typical family with two wage earners.
  • The Economy Has Now Experienced Over Five Years Of Uninterrupted Growth, Averaging 2.9 Percent A Year Since 2001. Real GDP grew a strong 3.1 percent in 2006.
  • Consumer Confidence In The First Quarter Of 2007 Was At Its Highest Level Since 2001.
  • Industrial Production Rose A Solid 0.7 Percent In April, With Manufacturing Production Growing 0.5 Percent.

The President's Agenda Will Help Keep America's Economy Strong, Flexible, And Dynamic

President Bush's FY 2008 Budget Lays Out A Detailed Plan To Balance The Budget By 2012 Without Raising Taxes. Strong economic growth has helped produce record levels of tax revenue to contribute to this goal. The President has called on Congress to make his tax cuts permanent and to work together with him to spend taxpayers' money wisely and tackle unfunded obligations in entitlement programs such as Social Security, Medicare, and Medicaid.

President Bush Has Called On Congress To Pass Legislation To Achieve His "Twenty In Ten" Goal To Reduce U.S. Gasoline Consumption By 20 Percent Over 10 Years. Achieving this goal will benefit the economy, national security, and the environment by reducing U.S. dependence on oil. On May 14, President Bush directed the U.S. Environmental Protection Agency and the U.S. Departments of Energy, Transportation, and Agriculture to take the first steps toward regulations to cut gasoline consumption and greenhouse gas emissions from motor vehicles, using the "Twenty in Ten" plan as a starting point.

President Bush Has Called On Congress To Help Keep America Competitive In The 21st Century By Reauthorizing And Strengthening The No Child Left Behind Act While Preserving Its Core Principles. A strong and vibrant education system is vital to maintaining our Nation's competitive edge in the world and extending economic opportunity to every citizen here at home.

President Bush Has Called On Congress To Help Secure The Borders And Meet The U.S. Economy's Needs By Passing The Bipartisan Immigration Reform Bill Now Under Consideration In The Senate. The bill makes enforcement of our immigration laws the highest priority. It will create a temporary worker program to relieve pressure on the border and help sustain the economy by allowing workers to enter the country legally, on a temporary basis, to fill jobs that Americans are not doing.

President Bush Is Committed To Keeping Our Economy Growing By Advancing Free And Fair Trade. In May, the Administration reached a breakthrough trade deal with Congressional leadership that will be applied to free trade agreements with Peru, Colombia, Panama, and South Korea. The agreement also opens the way for bipartisan work on extending the President's Trade Promotion Authority. The Administration continues working aggressively to make progress on the Doha Round of trade negotiations.

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