[Weekly Compilation of Presidential Documents Volume 33, Number 49 (Monday, December 8, 1997)]
[Page 1988]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the National Economy

December 5, 1997

    The November employment report shows the economy is the strongest it 
has been in a generation, with the lowest unemployment rate in a quarter 
century, nearly 14 million new jobs in the last 5 years, and real wages 
rising again. Today's good news--strong job creation and higher 
incomes--shows that the American economy continues to work for working 
families. It is clear that our three-part economic strategy--reducing 
the deficit, investing in people, and opening foreign markets to 
American goods--is the right strategy for America.
    Most importantly, this economic prosperity is helping all Americans; 
for example, the unemployment rate among Hispanics fell to one of its 
lowest levels ever recorded. And over the past year we had more new 
manufacturing jobs than during any other year in nearly three decades. 
While the economy is growing steady and strong, we still have more to do 
to keep our Nation on the right track and ensure that all Americans have 
the opportunity to benefit from this growth.