Unemployment Continues to Fall! Steady Job Growth Continues!

Conservatives applaud tax cuts' creation of solid job market

 ALEXANDRIA , VA – The Nation’s unemployment rate fell again last month to a low 5.1 percent, the Bureau of Labor Statistics reported today. The U.S. economy also continued its steady pattern of job creation by adding 78,000 new payroll jobs. Since the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) passed in June of 2003, the American job market has expanded for 24 straight months and unemployment has steadily declined.

"Two years ago, President Bush and the Republican Congress gave the United States labor market the tax relief it needed to jumpstart job creation, and we have seen strong, steady growth ever since," said ACU Chairman David Keene. " America owes the Conservative lawmakers who fought to bring us these crucial tax cuts a deep debt of gratitude."

During the aftermath of the September 11 terrorist attacks, unemployment climbed to 6.3 percent and the economy lost jobs for 16 out of 21 months. However, since the passage of JGTRRA two years ago, the economy has generated 3.6 million new jobs, and the nationwide unemployment rate has fallen to 5.1 percent. The United States has created 900,000 new jobs during the first five months of 2005 alone and is on pace to create 2.2 million jobs for the year, while the low unemployment rate stands below the average of the 1970s, 80s and 90s.

“President Bush’s tax cut track record is clear: the labor market is strong and jobs are being created,” continued Keene. “Congress must act to make President Bush’s tax cuts permanent so that steady job growth and low unemployment can continue.”