    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book I)]
    [January 14, 1997]
    [Pages 35-36]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the National Economy
    January 14, 1997

        Today's Consumer Price Index report makes clear that 1996 was an
    exceptional year for the economy in terms of low inflation and low
    unemployment. Indeed, the report confirms that the combined rate of
    unemployment and inflation, the so-called misery index, was lower in
    1996 than in any year since 1968. We also learned that in the last 3
    years we have had stronger real average hourly wage growth than during
    any 3-year period in nearly two decades (1976-1978). Moreover, the core
    inflation rate in 1996 was as low as any year since 1965.
        This is good news for the American people and more evidence that our
    economic strategy is working. Now is the time to work together in a
    bipartisan fashion and build on our success. That's why we will continue
    our efforts to reduce the deficit to zero, expand trade, and increase
    educational opportunities.

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