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Skriven 2006-02-03 23:32:54 av Whitehouse Press (1:3634/12.0)
Ärende: Press Release (0602033) for Fri, 2006 Feb 3
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Fact Sheet: Economic Growth Continues - Unemployment Rate Falls to 4.7
Percent
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For Immediate Release
February 3, 2006

Fact Sheet: Economic Growth Continues - Unemployment Rate Falls to 4.7
Percent


ÿÿÿÿÿIn Focus: Jobs _
ÿÿÿÿÿ

Today, The Unemployment Rate Fell For The Second Straight Month. The
unemployment rate fell to 4.7 percent - the lowest monthly rate since July
2001 and lower than the average of the 1970s, 1980s, and 1990s. In January,
the economy created 193,000 jobs and has created over 2 million jobs over
the past 12 months, and more than 4.7 million since August 2003.

The Economy Is Strong And Continues To Grow
  þ Consumers Are Confident. The Conference Board index of consumer
    confidence surpassed expectations and rose to 106.3 in January - the
    highest level in over three years. According to the Conference Board,
    the number of consumers saying that jobs are "plentiful" rose to its
    highest level in over four years. Additionally, the University of
    Michigan consumer sentiment index reflected strong consumer confidence.
  þ Incomes Increase. Real disposable incomes rose 0.4 percent in December
    and were up 1.4 percent for 2005. Since January 2001, real after-tax
    income per person has risen 7.9 percent. Real household net worth is at
    $51.1 trillion - an all-time high.
  þ Retail Sales Rise. Nominal retail sales rose 0.7 percent in December
    and are up 6.4 percent from 2004. In December, real consumer spending
    posted a solid 0.9 percent gain and increased 3.4 percent over the past
    year.
  þ Manufacturing Continues To Expand. The Institute for Supply Management
    (ISM), a private research group, reports manufacturing activity grew
    for the 32nd consecutive month in January. The ISM's manufacturing
    index reading of 54.8 indicates continued sector expansion. According
    to the Federal Reserve, total industrial production increased a solid
    0.6 percent in December and manufacturing industrial production is up
    3.8 percent over the past 12 months.
  þ Durable Goods Orders Rise In December. New orders for durable goods
    surpassed expectations and increased 1.3 percent in December. New
    orders for machinery rose 6.5 percent - attaining the highest level
    since the series began in 1992. Over the past 12 months, new orders
    have increased 12.7 percent
  þ Productivity Growth Is Strong. During the past four quarters,
    productivity has increased 2.3 percent. Productivity has grown at a 3.2
    percent annual rate since the end of 2000.
  þ Construction Spending Is At An All-Time High. Construction spending
    rose 1.0 percent in December. For 2005, spending reached a record
    $1.120 trillion - an increase of 8.9 percent over the previous record
    set in 2004. Housing starts in 2005 totaled 2.065 million units - 5.6%
    above 2004 and the highest level in over 30 years. Total sales of
    existing homes hit an all-time high of 7.072 million units in 2005 - up
    4.2 percent from 2004. More Americans now own their homes than at any
    time in the Nation's history, and minority home ownership is at a
    record high.
  þ Inflation Remains In Check. The Consumer Price Index (CPI) fell 0.1
    percent in December reflecting a fall in energy prices. Core CPI has
    increased a moderate 2.2 percent over the past year, indicating core
    inflation remains contained.

The President's Agenda To Strengthen A Vibrant Economy

President Bush's Agenda Will Ensure Continued Opportunity For America's
Workers And Entrepreneurs. In his State of the Union Address, the President
laid out an agenda to maintain the economy's momentum and ensure that
America remains the leader of the global economy. The President called upon
Congress to make tax relief permanent and to continue working with him to
limit the growth of government through fiscal discipline and remain on
track to cut the deficit in half by 2009. We have reduced the growth of
non-security discretionary spending every year since 2001, and last year
this spending was cut. The President is advancing pro-growth policies to
make the health care system affordable and accessible; reduce America's
dependence on foreign oil through the Advanced Energy Initiative; continue
to open markets to American goods and services; reform the immigration
system and ensure secure and orderly borders; and encourage innovation
through the American Competitiveness Initiative, which will double the
Federal commitment to the most critical research programs emphasizing the
physical sciences, modernize and make permanent the research and
development tax credit, reform the job training system, and strengthen math
and science education.

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