    [Public Papers of the Presidents of the United States: William J. Clinton (1998, Book I)]
    [March 6, 1998]
    [Pages 335-336]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on the National Economy
    March 6, 1998

        Good morning. Today we received more good news for our workers and
    our families. Our economy added another 310,000 new jobs last month;
    real wages continued to rise; unemployment fell to 4.6 percent, the
    lowest level in a quarter century; and more Americans are sharing in the
    prosperity. Hispanic unemployment, for example, fell to a record low.
        The American economy has now added more than 15 million new jobs
    since I took office. Inflation has remained low and stable. We continue
    to have the strongest economy in a generation, the lowest unemployment
    in a quarter century, the lowest inflation in 30 years, the highest
    homeownership in history. We're on track to have the longest peacetime
    recovery in the history of our country. These are good times for
    America.
        But how shall we maintain this momentum? We must first press forward
    with this new economic strategy. It is working. We must do more also to
    continue to create high-wage jobs. And finally, we must make sure that
    our people have the skills to fill them.
        The new economy is increasingly driven by creativity, innovation,
    and technology, with high-skill jobs growing at nearly 3 times the rate
    of other jobs. In the field of information technology, the hunt for
    employees with high-tech skills is becoming more and more intense. There
    are hundreds of thousands of vacancies out there in America right now.
        The key to expanding opportunity is education and training. Through
    our new HOPE scholarships, the lifetime learning credits, education
    IRA's, expanded Pell grant scholarships, better student loans, we've
    opened the door to college for all people of all ages who are willing to
    work for it.
        Recently, we learned that our high school seniors lagged behind the
    rest of the industrial world in math and science. We must do more there.
    We must work to raise standards, reduce class size, improve teaching,
    have people taking more challenging courses, and increase
    accountability.
        But we also, to look at the immediate situation, must do more to
    reform our job training system. For more than 3 years, I have called on
    Congress to consolidate the tangle of training programs we have today
    into a ``GI bill'' for workers, to create a network of one-stop career
    centers, to increase accountability, to ensure results, to empower
    people to gain the skills that are in greatest market demand. Secretary
    Herman and Secretary Daley, who are here with me today, are working in particular to
    address the job shortage in the information technology area.
        Now, last year a bipartisan majority in the House of Representatives
    passed a bill that would achieve the goals that I have called for for
    years now. A similar bill has attracted bipartisan support in the
    Senate. I'm encouraged by reports that the Senate is likely to take up
    this legislation. In the wake of these employment numbers, with
    unemployment low and the crying demand for higher skills and still
    people in some of our inner-city neighborhoods and rural areas
    unemployed, I ask the Senate to pass this bill and send it to me so that
    I can sign it into law. The legislation is essentially to help more
    Americans win in today's economy and to keep our recovery going.

    [[Page 336]]

        Unemployment is low, job growth is strong, our economy is expanding
    at a healthy pace. We are uniquely poised now to widen the circle of
    opportunity for the 21st century. Passing the ``GI bill'' for America's
    workers is one of the best ways we can continue to grow.
        Thank you, and thank you to the economic team, and congratulations
    to the American people. Thank you very much.

    Note: The President spoke at 10:15 a.m. in the Rose Garden at the White
    House.