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 Home > News & Policies > July 2007

For Immediate Release
Office of the Press Secretary
July 6, 2007

Fact Sheet: Job Creation Continues - More Than 8.2 Million Jobs Created Since August 2003
June 2007 Marks 46th Consecutive Month Of Job Growth

     Fact sheet In Focus: Jobs & Economy

Today, The Bureau Of Labor Statistics Released New Jobs Figures – 132,000 Jobs Created In June.  Since August 2003, more than 8.2 million jobs have been created, with more than 2 million jobs created over the twelve months ending in June.  Our economy has now added jobs for 46 straight months, and the unemployment rate remains low at 4.5 percent. 

Americans Are Working And Taking Home More Pay

  • Real After-Tax Per Capita Personal Income Has Risen By 9.9 Percent – Nearly $3,000 Per Person – Since President Bush Took Office.
  • Real Wages Rose 1.1 Percent Over The 12 Months Ending In May.  This is faster than the average rate during the 1990s, and it means an extra $729 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.
  • 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.
  • Purchasing Managers Reported Manufacturing Expansion For The Fifth Consecutive Month In June.  The Institute for Supply Management manufacturing index rose to 56 in June. 

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 While Keeping Taxes Low.  Tax and spend is no way to balance the budget.  The President's Budget keeps annual spending under control and addresses our long-term budgetary challenge – the unsustainable growth in entitlement programs like Medicare and Social Security.  

  • Strong Economic Growth Has Helped Produce Record Levels Of Tax Revenue, Which Is Helping Reduce The Federal Deficit And Meet Our Goal Of A Balanced Budget.  Record tax revenues helped us reach the President's goal of cutting the deficit in half three years ahead of schedule.  Receipts have increased nearly 35 percent since the tax relief was fully implemented in 2003, and the deficit has declined by $165 billion in the last two years.
  • The President Will Veto Appropriations Bills That Threaten Deficit Reduction With Overspending.  The Administration supports responsible spending to achieve the goal of a balanced budget by 2012.

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.   President Bush commends Congress for considering legislation to help bring America closer to meeting his "Twenty In Ten" goal, and challenges them to take a bolder approach to strengthen America's energy security.  Achieving this goal will benefit the economy, national security, and the environment. 

President Bush Has Called On Congress To Help Keep America Competitive In The 21st Century By Reauthorizing And Strengthening The No Child Left Behind (NCLB) Act This Year.  NCLB is working – during the most recent five-year period on record, the National Assessment of Educational Progress shows nine-year-olds made more progress in reading than they did in the previous 28 years combined.  Strengthening NCLB will help ensure that all children graduate high school ready for college and the global economy, will better help struggling schools, and will empower parents with more choices.

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