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Strong Economic News
- Unemployment was 4.7% in October, 1 point below the average of the 1990s.
- Payroll employment has risen for a record 50 straight months. More than 8 million jobs have been created dur-ing this period.
- Professional and business services added 65,000 jobs in October, while private education and health services added 43,000.
- The economy has now experienced 6 straight years of growth with real GDP having increased at a 2.8% annualized rate.
- Workers' real (inflation-adjusted) wages and benefits have risen over the past year.
- After-tax per capita income is up 12.7% since January 2001.
- Annualized productivity growth has averaged 2.5% over the past 6 years.
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