Today, Congressman Mike Conaway (TX-11) issued the following statement in response to the Department of Labor’s announcement that 167,000 new jobs were created in December and that the unemployment rate held at a steady, and still historically low, 4.5 percent.
“Month after month, we continue to receive great news about our economy. Because of the Republican Congress’ tax cut policies, today’s announcement of record job growth in 2006 is no surprise, and is further proof that now is not the time to raise taxes. Our current economic policies have led to exceptional economic growth, which has in turn led to record federal receipts. Our economy is strong and continues to benefit working Americans, feeding our thriving nation. We must continue our commitment to American taxpayers by continuing our pro-growth policies.”
For all of 2006, the nation's unemployment rate dropped to a six-year low of 4.6 percent, and payroll employment increased by 1.8 million jobs, an average of 153,000 jobs a month. In 2005, the unemployment rate averaged 5.1 percent.
