    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book II)]
    [November 8, 2003]
    [Pages 1490-1491]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    November 8, 2003

        Good morning. This week, we heard some good news about the effects
    of tax relief on the American economy. The Department of Labor reported
    that our economy added 126,000 new jobs in October. And over the past 3
    months, there were 286,000 new jobs. The unemployment rate fell to 6
    percent. The 4-week average for jobless claims has declined in 6 of the
    past 7 weeks, and manufacturers reported that orders and shipments are
    both rising.
        This news comes one week after we heard that economic output rose at
    a 7.2 percent annual rate in the third quarter, the fastest pace of
    growth in nearly 20 years. America's economy is getting stronger every
    day. American companies are investing. Americans are buying homes at a
    record pace, and homeownership is near record levels. Stock market
    values have risen, adding about $2 trillion in wealth for investors
    since the beginning of the year.

        We can all be encouraged, but we cannot be satisfied. These are
    early signs of progress. Now we must turn this progress into broad and
    lasting gains for all Americans. Our improving economy is also a
    changing economy, and some workers need help preparing for new jobs and
    new industries.

        In Winston-Salem, North Carolina, where I traveled this week,
    manufacturing jobs have been declining for decades. The textile industry
    and furniture makers and farmers are hurting. In Winston-Salem, I also
    saw a good program at a community college that is training unemployed
    workers for new jobs in industries which are growing, such as
    biotechnology. Local businesses, along with the Department of

    [[Page 1491]]

    Labor, are supporting this job training program. We must give more
    workers the opportunity to learn new skills so they can get ahead and
    provide for their families.
        My administration is investing more than $15 billion each year in
    job training and employment services. Americans can go to more than
    1,900 one-stop career centers around the country, where, in a single
    location, they can check job listings, get help with a job application,
    and sign up for job training programs.
        We're also helping more students attend community colleges, where so
    many people find new skills. We boosted our request for Pell grants,
    which help adults of all ages pay for college, by 45 percent since I
    took office. And I've asked Congress to establish personal reemployment
    accounts for out-of-work Americans to help them in their job search.
    These accounts would give up to $3,000 to unemployed workers to get
    training, to find child care, or to relocate to a city where there is a
    job.
        The most important thing we can do to help those looking for work is
    to make sure our current economic growth results in more new jobs. I
    have proposed a six-point economic plan to encourage companies to expand
    and hire workers. We must bring health care costs under control, reform
    our civil courts to end the junk lawsuits hurting small businesses, cut
    needless regulations so that small-business owners can focus on pleasing
    their customers instead of pleasing bureaucrats. We must pass a national
    energy policy to ensure an affordable and reliable supply of energy to
    our economy, promote free trade agreements that bring good jobs to
    America, and make tax relief permanent, so the gains we have seen do not
    disappear when tax relief is scheduled to go away.
        The tax relief of the past 2 years was based on a principle that
    when Americans keep more of their own earnings, they spend more and
    invest more and move the economy forward. We're now seeing that happen.
    Our economy is on a rising road, and now we must take the remaining
    steps to ensure that our economy becomes a lasting expansion and our
    prosperity extends to every corner of America.
        Thank you for listening.

    Note: The address was recorded at 9:20 a.m. on November 7 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on November 8. The
    transcript was made available by the Office of the Press Secretary on
    November 7 but was embargoed for release until the broadcast. The Office
    of the Press Secretary also released a Spanish language transcript of
    this address.