October 7, 2005
JS-2968

Statement by Treasury Secretary John Snow on
September Jobs Report

Today's job numbers show that the U.S. economy has great underlying strength.  Despite the devastation wrought by Hurricane Katrina, payrolls declined only 35,000, a much lower figure than expected and also less than the combined upward revisions of 77,000 jobs in the previous two months.  We would not be seeing this kind of performance in the face of such a great challenge unless the fundamentals of our economy were exceptionally strong.

The President's economic plan has placed the economy on a path of growth and put us in a stronger position from which to deal with the effects of Hurricanes Katrina and Rita.   We must keep the economy on the right path by keeping taxes low and helping individuals and businesses rebuild by implementing the President's reconstruction proposals including Gulf Opportunity Zones, Worker Recovery Accounts and the Urban Homesteading Initiative.