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OPA News Release: [12/15/2005]
Contact Name: Stephanie Cathcart
Phone Number: (202) 693-4676
Release Number:
05-2354-NAT
Statement of U.S. Secretary of Labor Elaine L. Chao
On the Latest Economic News
WASHINGTON—U.S. Secretary of Labor Elaine L. Chao issued the following statement on data released today by the Bureau of Labor Statistics (BLS):
“November’s 0.6 percent decrease is the largest decline in the Consumer Price Index since 1949 and further testament to the strength of the U.S. economy. This strength is also reflected in the monthly increase in real hourly earnings—up 1 percent—the strongest increase since January 1972. Coupled with the second consecutive month of declining energy costs (down a record 8 percent in November), it all adds up to good news for American workers.
“Our country needs to stay the course by implementing the President’s pro-growth economic policies. This includes making the tax cuts permanent, so workers can keep more of their hard-earned wages; it includes enacting Association Health Plans, which enable small business and their employees to access quality affordable health care, and it includes investing in worker training and reforming publicly funded training programs.”
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