    [Public Papers of the Presidents of the United States: William J. Clinton (1999, Book I)]
    [June 4, 1999]
    [Page 890]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the National Economy
    June 4, 1999

        Today, we have more good news about continuing prosperity in our
    economy. The unemployment rate fell to 4.2 percent, marking the 23d
    month in a row that the rate has been below 5 percent and the lowest
    rate in 29 years. Combined with the continued strong overall economic
    growth, low long-term inflation, and continued rising wages, we are
    widening the circle of opportunity for more Americans. African-American
    unemployment fell to the lowest level on record. Nearly 19 million jobs
    have been created since 1993, and nearly one million jobs have been
    created in the first 5 months of this year, showing the continued strong
    pace of job creation. We need to continue our commitment to our proven
    economic strategy of fiscal discipline, opening markets abroad, and
    targeted investments in our people.