Great Economic News

Late last week new employment figures were released, and they continue to show what a growing, strong economy we have. Contrary to what the Dems would have you believe, this country is powering ahead full throttle.

According to the Bureau of Labor Statistics, there were 288,000 new jobs created in this country during April. That's on top of 337,000 in March. The economy has seen 625,000 new jobs created in the past 60 days.

Just remember these statistics when you hear Kerry or one of his handlers talking about the "2 million jobs lost" by Bush's Administration. More jobs exist in this country today than in January 2001 when Bush took office. We're on pace to see over 3 million new jobs created this year alone.

Unemployment numbers are also down, slipping from 5.7 to 5.6 percent. That's 188,000 fewer people drawing unemployment in April. Initial claims for unemployment insurance are at their lowest point since October 2000. The Institute for Supply Management, an industry group, has seen its manufacturing employment index jump to the highest level in 15 years, signaling growth in manufacturing employment of 50,000 jobs per month. With goods-producing employment having risen 124,000 in just the last two months, this forecast looks very good.

The Congressional Budget Office reports profits rising so fast that corporate income tax revenues are 45 percent above this time last year. It also reports higher payroll tax revenues consistent with expanding employment. Overall, the economic picture has brightened so much CBO now sees $30 billion to $40 billion more in federal revenue than earlier anticipated.

Finally, the most telling statistic is overall economic growth. The US economy has averaged 5 percent real growth over the last 12 months, and it grew 4.2 percent just during the first quarter of 2004. Very strong numbers, which rightfully should give President Bush a bump coming November.