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.