July 7, 2006
JS-4352

Statement of Acting Treasury Secretary Robert M. Kimmitt
on June Employment Report

"The employment report for this month showing 121,000 jobs being created in June provides further evidence of the strength of the U.S. economy. Since the President's tax relief program took effect in mid-2003, we have seen twelve straight quarters of increased business investment, leading to more than 5.4 million jobs being created and a remarkable 4.6 percent unemployment rate – lower than the average rate in each of last four decades.

"Higher tax revenues are also an indication of a strong economy, and in fact, year-to-date tax receipts are now running 12.9 percent over the 14.6 percent increase of last year. This is a clear indication that, with continued attention to spending discipline, we are on the right path to meeting the President's deficit reduction goal early.

"The President has laid the pro-growth foundation for sustained U.S. economic strength, and his proposals like the American Competitiveness and Advanced Energy initiatives will build upon that strength and will create even higher standards of living for future generations of Americans."