Economic News Update

• June unemployment remained unchanged at 5.5%, remaining below the averages for the past three decades.
• Average hourly earnings increased by $0.06 in June.
• Productivity increased by 0.7% in the first quarter of 2008.
• The bipartisan economic growth package signed by President Bush is sending over $152 billion back to American families and is expected to create more than 500,000 jobs by the end of 2008.