EVANS
HAILS STRONG MAY RETAIL SALES GROWTH
MORE JOBS MEAN MORE CONSUMER SPENDING
WASHINGTON,
D.C. - U.S. Commerce Secretary Donald L. Evans today praised
the strong May retail sales growth number as proof the Bush Administration’s
policies are working:
“More
Americans are going on spending sprees at shopping malls as more
people are finding well-paying jobs. Due to President Bush’s
leadership, the economy is growing and consumers are spending more
with their pocketbooks. The Bush Administration’s efforts
to provide tax relief are creating more jobs, causing consumers
to buy, and propelling the economy into expanded recovery.”
Retail Sales Background: According to the Commerce
Department, May Retail Sales rose 1.2% to a seasonably adjusted
annual rate of $335.8 billion. Most retailers experienced gains
in sales including motor vehicle dealers, department stores and
other general merchandise stores, grocery stores, health and personal
care stores, and clothing and accessory stores.
Employment
Background: New jobs are growing and the unemployment
rate is dropping across the country. According the Bureau of Labor
Statistics (BLS), employment over the last year was up in 44 of
the 50 states and the unemployment rate was down in all regions
and in 47 of the 50 states.
Nationwide,
more than a quarter of a million jobs per month have been created
so far this year and more than 1.4 million jobs have been added
since August, with 9 consecutive months of gains. The national employment
rate stood at 5.6% in May – 0.7 percentage points below the
peak of 6.3% in June 2003 and below the average of the 1970s, 1980s,
and 1990s.
Manufacturing
employment increased 32,000 in May, and was revised upward by 22,000
jobs for March and April. Manufacturing employment has risen for
four consecutive months.