FROM THE OFFICE OF PUBLIC AFFAIRS

February 4, 2005
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Statement of Treasury Secretary John W. Snow on January Employment Report

As the economy continues to grow, we continue to see a steady pick up of new jobs. Today's report again demonstrated the strength of our economic momentum with the addition of 146,000 jobs in January. With upward revisions, a total of 2.7 million jobs have been created in 20 straight months. At 5.2 percent the unemployment rate remains below the average of the past three decades.

This administration is committed to ensuring the continuing strength of the economy and steady pace of job creation. President Bush has set forth a bold economic agenda for America to strengthen Social Security, reform the tax code, curb abusive lawsuits, and exercise the fiscal discipline necessary to cut the deficit in half in five years. By facing these economic challenges, we will stay on track to continue growing the economy, creating jobs and meeting the needs of America's workers and families.

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