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| 1.7 Million Jobs in 12 Straight Months of Growth |
September 03, 2004 |
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| Wilson: Economy Is Showing Steady Strength
Albuquerque, NM - Congresswoman Heather Wilson today said that American productivity is creating jobs as part of a solid longterm economy.
A 12th straight month of job creation was announced today. The economy created 144,000 jobs, according to the Bureau of Labor Statistics, which also provided upward revisions of estimates for June and July, totaling another 59,000 jobs. That brings the total for the past year to 1.7 million new jobs.
The unemployment rate continues to show steady improvement, easing from 5.6 percent in June to 5.5 percent in July, and now to 5.4 percent. That is down from a peak of 6.3 percent, and better than the average of the 1970s, the 1980s and the 1990s.
“The American economy is strong and growing new jobs. We’ve had 12 consecutive months of job growth,” Wilson said. “Exports of goods and services are strong. Inflation is low. Mortgage interest rates and the bank prime rate are at the lowest rates in decades. Homeownership is at all-time highs nationally, and even stronger in New Mexico. But most importantly, jobs are being created.”
“We need steadily expanding job opportunities so that everyone who wants to work can work, and people who have a job can find their next job,” Wilson said. "To continue seeing people hired, we must keep taxes low and regulations fair for the small businesses that create nearly eight of every 10 new jobs in America.”
Wilson regularly tours area businesses, meets with employees, and "job shadows" throughout the community to help her keep in touch with the local outlook for both businesses and employees.
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