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Unemployment Rate Drops to Lowest Level in Nearly Three Years

Date: Aug. 6, 2004
Location: Washington, DC
Issues: Economy and Fiscal


UNEMPLOYMENT RATE DROPS TO LOWEST LEVEL IN NEARLY THREE YEARS

Job Growth Continues for Eleventh Straight Month

WASHINGTON-U.S. Sen. John Cornyn, a member of the Senate Budget Committee, made the following statement Friday regarding the Labor Department's latest figures that show 11 straight months of job growth and the unemployment rate at its lowest level in nearly three years:

"These positive numbers, coupled with the 1.5 million new jobs created in the last year, show the economy continues its solid recovery. While some on the campaign trail will surely try to spin the numbers as a sign of doom and gloom, that can't change 11 straight months of job growth, including 10,000 new manufacturing jobs, and the unemployment rate dropping to its lowest level in nearly three years. "Also, consumer confidence has reached its highest point in two years and homeownership is at record highs. However, we can't let up and will continue striving to make sure that every American who wants to work can get a job."

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