Contact: Rob Ostrander 202.224.7627 Shana Stribling 202.224.0309
Friday, April 7, 2006

WASHINGTON - U.S. Senator Kit Bond praised the new economic and jobs figures released by the Department of Labor today.

“These numbers really speak to the resilience of this economy. Despite the economic impact of 9/11, two wars, a stock market bubble and energy price spikes this economy remains healthy,” said Bond.

Today’s news shows that the economy is strong and continues to grow, Bond pointed out. According to the Department of Labor, the U.S. economy has created 5.1 million new jobs since 2003, 2.1 million in the last year alone. In addition to job growth, wages are on the rise as well, said Bond. Also, the unemployment rate is 4.7 percent, down from February and a rate lower than the average of the 1960’s, 1970’s, 1980’s or1990’s.

State-specific numbers released today also show that Missouri shares in the good economic news, emphasized Bond. From February 2005 to February 2006 Missouri created 37,500 jobs and 7,600 in February 2006 alone. Also, the statewide unemployment rate is 4.8 percent in February.

The numbers released today are signs that the economy is responding positively to Congress’ fiscally-disciplined agenda, said Bond. In order to keep the economy’s momentum going, Congress needs to act now and make the tax cuts permanent.

According to numbers released by the Department of Treasury hundreds of thousands of Missouri taxpayers will enjoy a lighter burden thanks to the tax relief passed in 2001 and 2003. More than 2 million Missouri taxpayers will have lower income tax bills. Also, 650,000 married couples in Missouri will benefit from the reduction of the marriage penalty and 541,000 married couples and single parents in Missouri will benefit from the increase in the child tax credit.

“Congress passed common-sense tax reform and families, small business owners, farmers and entrepreneurs have been able to keep more of their own money to save and invest. As a result we are seeing more jobs and a growing economy. We need to keep taxes low and federal spending under control to keep our economy strong,” said Bond.