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For Immediate Release
Office of the Press Secretary
October 5, 2007
Fact Sheet: September 2007 Marks Record 49th Consecutive Month of Job Growth
More Than 8.1 Million Jobs Created Since August 2003 In Longest Continuous Months Of Job Growth On Record
President Bush Discusses the Economy and on Protecting Americans From Terrorism
"[L]ast month our economy added 110,000 new jobs. And that's good news for people here in our country. It's an indicator that this economy is a vibrant and strong economy. ... If you want this economy to continue to grow, and if you want to reinforce the fact that entrepreneurship is strong and people are working, dont raise taxes. And I'm looking forward to working with the Congress to set priorities on how we spend the people's money, but I also am going to make it very clear to people in Congress that we're not going to raise their taxes on the working people."
- President George W. Bush, 10/5/07
Today, the Bureau of Labor Statistics released new jobs figures 110,000 jobs created in September. September 2007 is the 49th consecutive month of job growth, setting a new record for the longest uninterrupted expansion of the U.S. labor market. Significant upward revisions to employment in July and August mean employment growth has averaged 97,000 per month over the last three months. Since August 2003, our economy has created more than 8.1 million jobs, and the unemployment rate remains low at 4.7 percent.
The U.S. Economy Is Growing And Dynamic
The President's Budget Request Would Maintain Economic Growth By Meeting Priorities Without Raising Taxes
Congressional leaders have proposed spending increases of $205 billion over the next five years on top of the President's budget request. They want to pay for these spending increases by raising taxes on the American people. At a time when many families are dealing with rising mortgage rates, college costs, and health care expenses, it is wrong to take more money out of their paychecks.
The President calls on Members of Congress to stop playing politics with SCHIP and work with him on a responsible bill that he can sign. This week, President Bush vetoed Congress' SCHIP bill, which would move millions of children who now have private health insurance onto government coverage. The President supports SCHIP, and he hopes Members of Congress will now work with him to find common ground on a bill that returns the program to its original purpose of targeting dollars to poor children who need coverage the most.
The Administration has moved forward within its statutory and regulatory authorities on steps to help struggling homeowners avoid foreclosure. For example, last month, the Administration launched a new Federal Housing Administration (FHA) initiative called "FHASecure," which will bring the total number of families FHA projects to help refinance next year to approximately 240,000. President Bush calls on Congress to help an estimated additional 200,000 families avoid problems with their mortgages by passing FHA modernization legislation.
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