MINNESOTA IS MOVING FORWARD WITH MORE JOBS AND TRADE
Minnesota Is Moving In The Right Direction
Unemployment Is Down. The unemployment rate in Minnesota has declined from 5.3% in January 1993 to 3.1% in July 1997.
271,000 New Jobs In Minnesota. 271,000 new jobs have been created in Minnesota since 1993 -- job growth nearly twice as fast as the four years before President Clinton took office.
Exports From Minnesota Are Up 46%. In the first 6 months of 1997, Minnesota's goods exports were running at a rate of $14 billion -- up 46% since 1992. Minnesota's exports of manufactured products were also up 28% from $7.8 billion to $10.8 billion in 1997*
169,700 Jobs In Minnesota Are Supported By Trade. Jobs supported by goods exports increased 17% -- up 24,800 since 1992 to 169,700 jobs in 1997*-- paying an average of 15% more than non-trade related jobs.
Transportation Equipment Exports Are Up 36%. Transportation equipment exports have increased 36% since 1993 from $600 million to $1 billion in 1997*-- creating more higher paying jobs for more people from Minnesota.
Over 32,200 New Manufacturing Jobs In Minnesota. 32,200 new manufacturing jobs have been created since 1993-- a growth rate 8 times faster than the four years before President Clinton took office.
Household Incomes Are Up $4,280 In Minnesota. Since 1992, real median household income in Minnesota has increased by $4,280 -- from $33,653 in 1992 to $37,933 in 1995.
*All figures for 1997 are based on exports for the first 6 months.
America Is Moving In the Right Direction; Now Is Not The Time To Turn Back
President Clinton's three part economic strategy of cutting the deficit, investing in our people through education and training and opening more markets to U.S. goods is working. Now is the time to continue that progress by renewing fast track authority to help create more jobs that pay more.
13 Million New Jobs. The economy has created nearly 13 million new jobs under President Clinton. Private sector job growth rate nearly 8 times greater than during previous Administration.
Unemployment Rate Down To 24-Year Low. In 1992, the unemployment rate was 7.5%. Today it is under 5% -- as low as it's been at any time in the last 24 years.
1.7 Million New Export-Related Jobs -- Paying On Average 15% Higher Wages. Since President Clinton took office, the number of export-related jobs has increased by 1.7 million.
Family Income Up $1,600. After stagnating for 20 years, family incomes are rising again. Since 1993, the income of the typical American family increased by $1,631, after adjusting for inflation.
Exports Are Up By Nearly 50%. Since the beginning of 1993, exports from the U.S. have grown by nearly 50% -- up $318 billion -- after adjusting for inflation. Exports have accounted for 38% of the overall growth in the economy since 1993.
Renewed Growth In Key Industries. After a decade of enormous job losses in construction, manufacturing, and autos, these industries have made a remarkable recovery -- more than one million new jobs combined under President Clinton.
Smallest Deficit Among Major Economies. Under President Clinton, the deficit has been cut by more than 80% -- from a record $290 billion in 1992 to an expected $37 billion this year.
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