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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release June 4, 1999

STATEMENT BY THE PRESIDENT

Today, we have more good news about continuing prosperity in our economy. The unemployment rate fell to 4.2 percent, marking the 23rd month in a row that the rate has been below 5 percent and the lowest rate in 29 years. Combined with the continued strong overall economic growth, low long-term inflation and continued rising wages, we are widening the circle of opportunity for more Americans. African American unemployment fell to the lowest level on record. Nearly 19 million jobs have been created since 1993, and nearly 1 million jobs have been created in the first 5 months of this year, showing the continued strong pace of job creation. We need to continue our commitment to our proven economic strategy of fiscal discipline, opening markets abroad and targeted investments in our people.

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