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Office of the Press Secretary

For Immediate Release May 5, 2000


Today we have further proof of the continued strength of our economy. With the announcement of 3.9 percent unemployment, we have broken the 4 percent barrier for the first time in three decades. Over the last seven years, our nation has created 21 million new jobs and cut the unemployment rate nearly in half. This is more than a symbolic milestone in the longest and strongest economic expansion in history. It shows that our strategy of fiscal discipline is working for all Americans. We have the lowest unemployment for African Americans and Hispanics on record, the lowest unemployment for women in more than 40 years, and strong wage growth among all income groups.

The American people deserve credit for this historic achievement. And they have made it clear that we should stay on the path of fiscal discipline, debt reduction, and targeted investments in our people. We should not adopt risky tax cuts that wouldderail our hard won prosperity. We have a responsibility to maintain the fiscal discipline that got us here.