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For Immediate Release
January 6, 2006
Fact Sheet: Economic Growth Continues - Unemployment Falls Below 5 Percent
Today, The Unemployment Rate Fell Below 5 Percent. The unemployment rate fell to 4.9 percent - lower than the average of the 1970s, 1980s, and 1990s. 108,000 jobs were created in December, and revisions to previous months added 71,000 jobs. The economy has created more than 400,000 jobs over the last two months, over 2 million jobs over the past 12 months, and over 4.6 million since May 2003.
Economic Growth Is Steady And Strong. For 10 consecutive quarters, GDP growth has exceeded 3 percent.
The Economy Is Strong And Continues To Grow
GDP Growth Is Strong. The economy grew at 4.1 percent in the third quarter, the 10th consecutive quarter in which GDP grew at a rate above 3 percent. The composite index of leading indicators increased 0.5 percent in November and has risen 1.7 percent over the past 6 months, indicating continued economic growth.
The President's Agenda For A Strong And Vibrant Economy
President Bush's Agenda Will Ensure Continued Opportunity For America's Workers And Entrepreneurs. To maintain the economy's momentum, the President has called upon Congress to make tax relief permanent and restrain spending to remain on track to cut the deficit in half by 2009. The President is advancing pro-growth policies to reduce America's dependence on foreign oil; help workers find affordable healthcare; strengthen rules governing pensions; reform our legal system; and give more Americans control over their lives by expanding ownership. To ensure that Americans have the skills needed to fill the jobs of the 21st century, the Nation's education system and job training programs must prepare workers for new opportunities. America must maintain its economic leadership in the world and open foreign markets to American goods and services.