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Office of the Vice President

For Immediate Release May 14, 1998
                        ON TODAY'S ECONOMIC NEWS 

Today's report shows that, as the economy remains strong, inflation remains low and real average hourly wages continue to grow at record levels.

Since our Administration took office, the inflation rate has been at its lowest level in three decades. At the same time, the unemployment rate is at its lowest level in 28 years. All of this is good news for America's families.

Also good news for families is today's report on real average hourly wages. Up 2.9 percent over last year, they are growing at the fastest rate in a quarter-century. Americans continue to have more money in their pockets.

To keep this good news coming and our economy on the right track, the President and I are committed to continuing our three-part economic strategy of fiscal responsibility, investing in our people, and tearing down trade barriers to American goods.