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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-8211
"A terrific holiday gift has come early to America's working families.
Today's employment situation report shows that the unemployment rate fell to
4.6 percent, the lowest since 1973. President Clinton's economic plan of
investment in education and training, coupled with a balanced budget, has
created a historic recovery for this nation.
"And the good news continues with no coal in the stocking of this
report, with payroll employment rising by an impressive 404,000 in November.
"Manufacturing employment rose by 44,000 jobs last month, and employment
in the construction industry rose by 29,000. In the past 12 months, this
industry has gained 184,000 new jobs. Strong growth continues in the high-tech
and high-wage fields of engineering, health and educational services.
"The holiday season has created impressive growth in retail trade
employment, which rose by 105,000 jobs in November. Wholesale trade also showed
notable growth for the second consecutive month.
"Average hourly earnings were up 7 cents this month--a pocketbook "plus"
for American workers in a season when the nation's productivity continues to
take flight."
Archived News Release--Caution:
information may be out of date.
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