U.S. economy creating jobs, growing in 2006 WASHINGTON, D.C.- (July 20, 2006) In the first quarter of 2006, the economy expanded at a rapid annual rate of 5.6%. Since August of 2003, the economy has added 5.4 million non-farm payroll jobs. In June, the economy created 121,000 nonfarm payroll jobs and the unemployment rate stood at 4.6%. The Bureau of Labor Statistics says this job growth was widespread across most sectors. The core inflation measure, which excludes volatile energy and food prices, and the headline inflation measure, which includes all types of items, presented different pictures. The core Consumer Price Index (CPI) was 2.6% higher than in June of 2005… Click here to see Chairman Saxton's release.

TALKING ABOUT A GROWING ECONOMY - Federal Reserve Chairman Alan Greenspan testifies before Congressman Saxton's Joint Economic Committee. Greenspan, who retired Jan. 31, discussed the many positive signs of the economy, including falling unemployment, low inflation and strong economic growth. Mr. Saxton is the Chairman and the highest-ranking House member of the JEC.

ON MR. SAXTON'S RADAR SCREEN - Lockheed Martin's 4,700 workers in Moorestown, N.J., develop and manufacture radar for the Navy's destroyers and guided missile cruisers. The plant is one of the largest employers in New Jersey. Keeping federal research dollars flowing into developing advanced phased array radar have protected both workers' future job security and sailors' lives at sea. The Aegis radar produced by the plant has been established as the most sophisticated ever built, and has been purchased by Japanese, European and South Korean navies. Links JEC Web Site JEC Studies JEC Press Releases

Saxton’s JEC Examines Hurricanes’ Impact on Federal Budget WASHINGTON, DC - 2/01/06 - In less than one month last year, three major hurricanes – Katrina, Rita, and Wilma – struck the U.S. Gulf Coast. In response to these disasters, Congress enacted two supplemental appropriations acts to provide a total of $62.3 billion for rescue, relief, reconstruction, and recovery operations.1 Federal policymakers are now changing their focus from short-term rescue and relief to long-term reconstruction and recovery. This report identifies some key considerations for evaluating such proposals. Existing Federal Programs When considering new programs or additional outlays, federal policymakers should be aware that hurricane relief is currently available from many existing federal programs. The federal government will indemnify insured flood losses of National Flood Insurance… Click here for More

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