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WASHINGTON, D.C. - New job figures released this morning show that the U.S. economic expansion is on track, Chairman Jim Saxton said today. According to the Bureau of Labor Statistics, payroll employment increased by 108,000 in December, while November job growth was revised upward to 305,000. Meanwhile, the unemployment rate slipped to 4.9 percent.

“The employment figures released today are good news for American workers,” Saxton said. “The recent gains in payroll employment reflect the impressive strength and resilience of the U.S. economy. The economy appears to have grown at a healthy pace through the end of the year.

&#147A combination of accommodative monetary policy and tax relief contributed to sustained and strong economic growth starting in 2003. Since May of 2003, employment has increased by 4.6 million jobs. According to Federal Reserve and private economic forecasts, solid economic and employment growth is expected to continue through 2006,&#148 Saxton concluded. <p>For more information on employment conditions, please visit the JEC website at <a href="http://www.house.gov/jec">www.house.gov/jec/</a> <p><p> <center> <p><b>###</b></center> <b><i>Press Release 109-53</i></b> <br><br><center><p><img SRC="http://www.house.gov/jec/press/2004/footer.gif" align=center alt="JEC Press Release footer"></center> <p><br><br><br><br> <p><a href="http://www.house.gov/jec/welcome.htm"><img SRC="http://www.house.gov/jec/jec-hr.gif" ALT="JEC Return Home" BORDER=0 height=49 width=75 align=bottom></a> <br><a href="http://www.house.gov/jec/welcome.htm">Return Home</a></p> </body></html>