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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-7317
"With the Olympics set to begin, our economy continues to grow at a
gold-medal pace.
"The January Employment Situation Report shows the unemployment rate in
the first month of the new year held steady at 4.7 percent--the 41st
consecutive month below 6 percent. The unemployment rate has been below 5.5
percent for 2 years--and at 5 percent or below since April.
"Today's report also shows clear evidence of strong job growth in all
sectors of the economy with payroll employment rising by 358,000. Manufacturing
employment rose by 43,000. In the services industry, employment rose by 89,000.
Job growth also continued in engineering and management services, computer
services and health services.
"The proportion of the population with jobs was 64.2 percent--an
all-time high. Since President Clinton took office 5 years ago, 14.7 million
new jobs have been created.
"At my request, this report is the first that includes data on
employment status by educational status. It indicates that a high-school
dropout is 4 times more likely to be unemployed than a college graduate. These
findings reinforce the message that education pays--and renews my commitment to
lifelong learning and skills development for all Americans.
"The January report shows that the winter weather hasn't put a chill on
our economy. Growth is solid, strong and steady. The President's plan of fiscal
discipline and investing in people is working--and so is America."
Archived News Release--Caution:
information may be out of date.
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