August 5, 2005
JS-2678

Statement of Treasury Secretary John W. Snow on July Employment Report

 "Today's announcement that 207,000 jobs were created in July is another significant indicator that America's economy is expanding.   Now, nearly 4 million new jobs have been created since May 2003 and the unemployment rate remains at 5 percent. Combined with several recent reports indicating steady non-inflationary increases in economic activity, this shows that the fundamentals of our economy are strong and that we are continuing on a positive path of growth and prosperity.

This coming Tuesday, the President will be meeting with his economic advisers to discuss the robust growth we are seeing in the economy, and talk about the path forward to enact policies that will ensure this growth continues.

President Bush is committed to keeping the economy healthy by strengthening Social Security, making his tax cuts permanent, reforming the tax code, enacting pension reform, reducing the cost of health care and the burden of frivolous lawsuits."

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