[Weekly Compilation of Presidential Documents Volume 40, Number 15 (Monday, April 12, 2004)]
[Page 533]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

April 3, 2003

    Good morning. This week, we received a powerful confirmation that 
America's economy is growing stronger. The Department of Labor reported 
that America added 308,000 jobs in March, the highest monthly job growth 
number since the spring of 2000. And since August, we've added over 
three-quarters-of-a-million new jobs in America. The unemployment rate 
has fallen from 6.3 percent last June, to 5.7 percent last month. Over 
the last year, the unemployment rate has fallen in 45 of the 50 States. 
This is good news for American workers and good news for American 
families.
    Inflation is low, and interest rates and mortgage rates are near 
historic lows. Manufacturing activity is high. Worker productivity is 
high, which means rising wages for American families. After-tax 
disposable income is up 10 percent since the end of 2000. And more 
Americans own their own home than at any time in history. Our economy's 
momentum is building. People are finding jobs, and the Nation's future 
is bright. America's families and workers have reason to be optimistic.
    Tax relief put this economy on the path to growth. Since 2001, we've 
cut tax rates for everyone who pays income taxes. We've reduced the 
marriage penalty in our Tax Code. We raised the child credit to $1,000 
per child, and we have reduced taxes on dividends and capital gains. 
This tax relief is critical because all workers are keeping more of what 
they earn, and small businesses, which create most of the new jobs in 
America, have the resources to expand and hire.
    As our economy adds more jobs, we will need to make sure all 
Americans are prepared to take advantage of new opportunity. We must 
help current workers and future workers learn the skills they need today 
and in the years to come.
    Our economy has increasing demand for workers with advanced skills, 
such as teachers, health care workers, and environmental engineers, but 
too many Americans do not have these kinds of skills. So on Monday, I 
will travel to North Carolina to propose reforms of our Federal job 
training system, to give our workers the help they need. Better job 
training will mean better jobs for American workers.
    We must also make sure our schools are preparing the next generation 
of workers. We've already taken action to improve our elementary schools 
with the passage of the No Child Left Behind Act. This good law is 
raising standards and hopes for all our children. But we must also 
address the needs of older students in high schools and colleges.
    On Tuesday, I will travel to Arkansas, where I will propose ways to 
help high school students who are struggling in math and reading. I'll 
propose reforms that will strengthen vocational programs at our high 
schools, and I will propose more incentives for college students to take 
math and science, so America can continue to lead the world economy.
    Over the past 3 years, our economy has overcome a lot of challenges, 
from stock market declines to recession to terrorist attacks to 
corporate scandals to war. Yet, our economy is moving forward, and jobs 
are being created steadily and increasingly. I'm optimistic about the 
future because I'm confident in the American worker and the American 
entrepreneur. And with the right policies in Washington, there are even 
brighter days ahead for American workers and American families.
    Thank you for listening.

Note: The address was recorded at 9:20 a.m. on April 2 in the Cabinet 
Room at the White House for broadcast at 10:06 a.m. on April 3. The 
transcript was made available by the Office of the Press Secretary on 
April 2 but was embargoed for release until the broadcast. The Office of 
the Press Secretary also released a Spanish language transcript of this 
address.