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OPA News Release: [08/04/2006]
Contact Name: Jim Schaefer
Phone Number: (202) 693-4676
Release Number:
06-1346-NAT
Statement of U.S. Labor Secretary Elaine L. Chao
On July Employment Numbers
WASHINGTON — U.S. Secretary of Labor Elaine L. Chao issued the following statement on the July employment situation released today:
"Today's report shows that despite high energy prices and rising interest rates, our economy continues to produce new jobs at a steady rate — 113,000 in July 2006. It's important to note that this month's slight uptick in the nation's unemployment rate is largely the result of people re-entering the labor market, as opposed to people losing their jobs. The unemployment rate this year has remained in the 4.6 to 4.8 percent range, which is still lower than the average 5.1 percent unemployment rate of 2005."
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