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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-8211
Today's employment situation report shows that the administration's
programs and America's families are, indeed, working. The announcement that the
unemployment rate is at its lowest in 24 years is indisputable evidence of
that.
Unemployment dropped to a remarkable 4.9 percent in April, the lowest
jobless rate since 1973. This is good news for all Americans, as this
broad-based drop left no demographic group of workers behind.
More than twelve million new jobs have been created since January 1993
-- a clear indication that the great American job machine continues to run
smoothly. The May report shows a gain of 142,000 net payroll jobs in April --
an increase of 110,000 jobs in the private sector. Ninety-three percent of the
new jobs have been in the private sector, a greater average proportion than
during any administration since Harry Truman's.
The growth of relatively high wage managerial and professional
occupations just keeps on going. Since January 1994, 61.3 percent of the
increase in employment has been in the high wage managerial and professional
occupations. The median wage in full-time managerial and professional jobs in
the first quarter of 1997 was $740.00 per week -- 47 percent higher than the
median wage paid to all workers.
Archived News Release--Caution:
information may be out of date.
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