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Skriven 2006-03-10 23:34:06 av Whitehouse Press (1:3634/12.0)
Ärende: Press Release (0603101) for Fri, 2006 Mar 10
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Fact Sheet: Economic Growth Continues - Almost 5 Million Jobs Created Since
August 2003
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For Immediate Release
Office of the Press Secretary
March 10, 2006

Fact Sheet: Economic Growth Continues - Almost 5 Million Jobs Created Since
August 2003



Today, The Government Released New Jobs Figures - 243,000 Jobs Created In
February. The economy created 243,000 jobs in February and has created
about 2.1 million jobs over the past 12 months - and almost 5 million since
August 2003. The unemployment rate is 4.8 percent - lower than the average
of the 1970s, 1980s, and 1990s.

The Economy Is Strong And Continues To Grow
  þ GDP Growth Is Strong. Real GDP increased 3.5 percent in 2005, and
    growth was revised up from an original estimate of 1.1 percent to a 1.6
    percent annual rate for the fourth quarter of 2005. The economy has
    been growing for 17 straight quarters, and the composite index of
    leading indicators increased 1.1 percent in January, indicating
    continued economic growth. In the last five years, the President's tax
    relief has helped spur growth by keeping $880 billion in the hands of
    the American people. The Administration has reduced the growth of
    non-security discretionary spending every year since 2001, and at the
    President's request, Congress cut this spending last year.
  þ State Unemployment Rates Fall. As of January, the unemployment rate is
    now at a record low in five states: Nevada, Florida, West Virginia,
    Montana, and Idaho. Over the past year, unemployment rates have
    decreased in 46 states.
  þ Incomes Increase. Real disposable incomes have risen 2.2 percent over
    the past 12 months. Since January 2001, real after-tax income per
    person has risen 8.2 percent. Real household net worth is at an
    all-time high of $51.1 trillion, and the median net worth of American
    households rose 1.5 percent between 2001 and 2004.
  þ Manufacturing Expansion Continues. The Institute for Supply Management
    (ISM), a private research group, reports manufacturing activity grew
    for the 33rd consecutive month in February. The ISM's manufacturing
    index reading of 56.7 indicates continued sector expansion. According
    to the Federal Reserve, over the past 12 months total industrial
    production rose 3.1 percent and manufacturing industrial production
    rose 4.5 percent, including 0.7 percent in January.
  þ Inflation Remains Contained. The core Consumer Price Index (CPI) rose
    just 0.2 percent in January. Core CPI has increased a moderate 2.1
    percent over the past 12 months, indicating core inflation remains
    contained.
  þ Retail Sales Rise. Nominal retail sales rose 2.3 percent in January and
    are up 8.8 percent over the past 12 months. In January, real consumer
    spending posted a solid 0.4 percent gain and increased 3.6 percent over
    the past year.
  þ Service Sector Grows. The ISM reports non-manufacturing business
    activity grew for the 35th consecutive month in February. The ISM's
    business activity index reading of 60.1 indicates continued sector
    growth.
  þ Productivity Growth Continues. During the past four quarters,
    productivity has increased 2.5 percent. Productivity has grown at a 3.4
    percent annual rate since the business-cycle peak in the first quarter
    of 2001.
  þ Housing Starts Reach Highest Level In Over 30 Years. Housing starts in
    January totaled a seasonally adjusted annual rate of 2.276 million
    units - up 14.5 percent from December and the highest level in over 30
    years.

The President's Agenda To Grow A Vibrant Economy

President Bush's Pro-Growth Policies Will Ensure Continued Economic
Opportunity. The President has asked Congress to make tax relief permanent
and presented a disciplined budget to halve the deficit by 2009. President
Bush is working with Congress to make health care more affordable and
accessible; increase America's energy independence; open additional markets
to American products; reform the immigration system and ensure secure and
orderly borders; and reform our legal system.

The President Proposed The American Competitiveness Initiative (ACI) To
Encourage Innovation Throughout The Economy. The ACI will increase Federal
investment in critical research, provide children with a strong math and
science foundation, and ensure the Nation continues leading in innovation.

This Week, The President Submitted Line-Item Veto Legislation To Stop
Wasteful Spending, Reduce The Budget Deficit, And Improve Accountability.
Special fast-track procedures would be created to guarantee an up-or-down
vote by a simple majority in Congress on a proposal by the President to
rescind specific spending or tax legislation that has been passed.

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