(Archived Content)
JS-3059
Today's announcement of final GDP growth of 4.1 percent for the third quarter of this year demonstrates the power of a strong economy to overcome the two devastating hurricanes and high energy prices that challenged growth in the third quarter.
We owe the resilience of the US economy to the American entrepreneurs and workers whose creativity and adaptability have kept our economy growing. Sound monetary policy from the Federal Reserve and the pro-growth economic strategy pursued by President Bush have laid the groundwork for the sustained economic growth that has created 4.5 million new jobs over the past two and a half years and has helped the economy continue its solid performance despite the difficulties presented in the third quarter.
With an unemployment rate at 5 percent -- well below the modern historical average of 5.9 percent -- household wealth at an all-time high and real hourly wages improving, all Americans can take pride in the robust performance of the US economy.