Statement of Treasury Secretary John W. Snow on July Employment Report

GuidanceDepartment of the TreasuryRisk Management

Today;s announcement that 207,000 jobs were created in July is another significant indicator that Americas economy is expanding. Now, nearly 4 million new jobs have been created since May 2003 and the unemployment rate remains at 5 percent. Combined with several recent reports indicating steady non-inflationary increases in economic activity, this shows that the fundamentals of our economy are strong and that we are continuing on a positive path of growth and prosperity.

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