[Weekly Compilation of Presidential Documents Volume 33, Number 40 (Monday, October 6, 1997)]
[Page 1481]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the National Economy

October 3, 1997

    Today the Labor Department announced more good news for America's 
workers and their families. Real wages are rising, the American economy 
has created 13.2 million new jobs since the beginning of my 
administration, and for the first time in 24 years, the unemployment 
rate has remained at or below 5 percent for 6 consecutive months. We 
have the most solid American economy in a generation, with strong 
investment, low unemployment, and low inflation.
    While the economy is strong, we still have more to do to keep the 
American jobs machine on the move and ensure that all Americans have the 
opportunity to benefit from our growing economy. We must continue our 
three-part economic strategy that is helping move America forward. We 
must ensure fiscal responsibility for future generations. We must 
continue to invest and expect the most of our people through initiatives 
such as national education test standards. And Congress must provide 
traditional trade negotiating authority so we can reach fair trade 
agreements with other countries, breaking down trade barriers to 
American goods, and creating high-paying jobs for American workers.