View Header


Office of the Press Secretary

For Immediate Release December 5, 1997
                        STATEMENT BY THE PRESIDENT 
                               ON THE ECONOMY

The November employment report shows the economy is the strongest it has been in a generation, with the lowest unemployment rate in a quarter century, nearly 14 million new jobs in the last five years, and real wages rising again. Today's good news -- strong job creation and higher incomes -- shows that the American economy continues to work for working families. It is clear that our three-part economic strategy -- reducing the deficit, investing in people, and opening foreign markets to American goods -- is the right strategy for America.

Most importantly, this economic prosperity is helping all Americans; for example, the unemployment rate among Hispanics fell to one of its lowest levels ever recorded. And over the past year we had more new manufacturing jobs than during any other year in nearly three decades. While the economy is growing steady and strong, we still have more to do to keep our nation on the right track and ensure that all Americans have the opportunity to benefit from this growth.