EVANS
PRAISES FALLING JOBLESS CLAIMS;
BUSH ADMINISTRATION ECONOMIC POLICIES
ARE WORKING
WASHINGTON,
D.C. - U.S. Commerce Secretary Donald L. Evans hailed today’s
report that last week’s falling jobless claims have lowered
the four-week moving average below expectations:
“American companies are betting on American workers. Consumer
demand, rising sales and increased profits are creating confidence
in the growing economy,” Evans said. “President Bush’s
policies are succeeding in creating jobs and expanding the economy.”
National
Employment Background
The Labor Department reported today that initial jobless claims
for the week ending June 12 fell by 336,000. Initial jobless claims
fell by a larger than expected margin, and lowered the 4-week average
to 343,250.
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.