[Weekly Compilation of Presidential Documents Volume 35, Number 22 (Monday, June 7, 1999)]
[Page 1046]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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.