FROM THE OFFICE OF PUBLIC AFFAIRS

     
Today’s report on employment marks the fifth straight month of job growth, pushing the number of jobs created over the past five months to over 360,000. The unemployment rate has continued to drop since its peak in June, the largest seven-month decline since 1995. We’re seeing solid gains in the underlying fundamentals. Manufacturing is showing signs of progress, a services sector index hit its highest level on record in January, consumer confidence is improved, and the housing market continues to be a base of strength for the economy. Following exceptional GDP growth in the third quarter, 2003 ended on solid ground, coming in above the historical average. The President’s Jobs and Growth Act, which provided needed tax relief for millions of American families, continues to boost economic activity and improve the environment for job creation.

I’m pleased by the strength of the recovery underway, but not satisfied. The President will persist in his efforts to drive economic growth and job creation until every American looking for work can find a job.