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For Immediate Release
Office of the Press Secretary
March 9, 2007
Fact Sheet: Job Creation Continues - More Than 7.5 Million Jobs Created Since August 2003
February 2007 Marks 42nd Consecutive Month Of Job Growth
In Focus: Jobs & Economy
Today, The Bureau Of Labor Statistics Released New Jobs Figures – 97,000 Jobs Created In February. Since August 2003, more than 7.5 million jobs have been created, with 2 million jobs created over the last 12 months. Our economy has now added jobs for 42 straight months, and the unemployment rate remains low at 4.5 percent.
More American Workers Are Finding Jobs And Taking Home More Pay
- Real Wages Rose 2.2 Percent Over The Past 12 Months Ending In January. This is substantially faster than the average rate of the late 1990s economy, and it means an extra $1,279 in the past year for the typical family with two wage earners.
- Real After-Tax Income Per Person Has Risen By 10 Percent – More Than $2,900 – Since President Bush Took Office.
- The Economy Has Now Experienced Over Five Years Of Uninterrupted Growth, Averaging 3.0 Percent A Year Since 2001.
- The Dow Is Up Over 40 Percent Since The President's Tax Relief Took Effect. The NASDAQ is up more than 55 percent over the same period.
The President's Agenda Will Help Keep America's Economy Strong, Flexible, And Dynamic
In His FY 2008 Budget, President Bush Laid Out A Detailed Plan To Balance The Budget By 2012 Without Raising Taxes. He has called on Congress to work together with him to spend taxpayers' money wisely and to tackle unfunded obligations in entitlement programs such as Social Security, Medicare, and Medicaid.
President Bush Has Called On Congress To Act In Four Key Areas To Keep America's Economy Flexible And Dynamic:
1. Breaking Down Barriers To Trade So American Workers Can Sell More Goods And Services To The 95 Percent Of The World's Customers Who Live Outside Our Borders. Global trade talks like the Doha Round at the World Trade Organization have the potential to level the playing field so America can compete on fair terms in foreign markets, while helping lift millions of people out of poverty around the world. The President calls on Congress to extend Trade Promotion Authority so we can complete the Doha Round and make headway on other trade agreements.
2. Making Private Health Insurance More Affordable And Giving Patients More Choices And Control Over Their Health Care. The President has proposed reforming the tax code with a standard deduction for every American who buys health insurance, whether they get it through their jobs or on their own. His proposal also taps the innovation of States in making basic, affordable insurance available to all by creating Affordable Choices grants to redirect institutional subsidies to help ensure the poor and hard-to-insure have access to private health insurance.
3. Continuing To Diversify Our Energy Supply To Benefit Our Economy, National Security, And Environment. In his State of the Union Address, the President set an ambitious goal of reducing gasoline usage in the United States by 20 percent over the next 10 years – Twenty in Ten. To reach this goal, he has proposed setting a mandatory fuels standard to require 35 billion gallons of renewable and other alternative fuels in 2017 and reforming and improving fuel efficiency standards for cars like we did with light trucks, which could reduce projected annual gasoline use by up to 8.5 billion gallons in 2017.
4. 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.
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