December 2, 2005—Today, the Department of Labor’s Bureau of Labor Statistics issued its monthly report on the U.S. Job Market.  The report showed that the economy created 215,000 jobs in the month of November, and the unemployment rate remained unchanged at 5.0 percent. In response to the strong report, Congressman Trent Franks (AZ-02) issued the following statement:
 
“Today’s report is great news and proof-positive the President's policies are working.  The economy is strong and getting stronger each day.”  Franks went on to say that “we must stay the course with the President's stimulus package and follow-through with fiscal restraint in government.  More Americans are working now than ever before in our nation’s history, and our country’s entrepreneurs and small business owners are operating in an environment of lower taxes and less government interference which is what is propelling their growth.”

“Despite the natural disasters we have witnessed this year, our nation has been resilient.  The stewardship of Republicans has resulted in a prosperous economy and one that continues to persevere.”
 
In addition to strong job growth, the U.S. economy is showing other signs of continued expansion:

• U.S. Growth Domestic Product growth of 4.3 percent is at its fastest pace since 2004. The GDP growth in the third quarter is one full point above the 3.3 percent rate.
• Lowest rate of core inflation in more than two years. The increase in the rate of inflation was lower than initial expectations, with the price index of consumer spending rising 3.6 percent, compared with initial estimates of 3.7 percent.
• November Consumer Confidence climbs. The Conference Board’s November Consumer Confidence rating is 98.9 a 13-point increase from October’s 85.2.
• Sales of new single family homes should the biggest one-month gain in 12-years. Sales of new single-family homes increased by 13 percent in October and pushed sales to an all-time high of 1.42 million units.

Trent Franks is the Congressman from the 2nd Congressional District of Arizona.  He is a member of the House Armed Services Committee, the House Judiciary Committee and Vice Chairman of the Constitution Subcommittee.