NEW JERSEY IS MOVING FORWARD WITH MORE JOBS AND TRADE
New Jersey Is Moving In The Right Direction
Unemployment Is Down. The unemployment rate in New Jersey has declined from 7.9% in January 1993 to 5.4% in July 1997.
223,000 New Jobs In New Jersey. 223,200 new jobs have been created in New Jersey since 1993 -- after nearly 220,000 jobs were lost in the four years before President Clinton took office.
Exports From New Jersey Are Up 49%. In the first 6 months of 1997, New Jersey's goods exports were running at a rate of $23 billion -- up 49% since 1992. New Jersey's exports of manufactured products were also up 47% from $14.8 billion to $21.8 billion in 1997*.
273,000 Jobs In New Jersey Are Supported By Trade. Jobs supported by goods exports increased 20% -- up 45,300 to 272,900 in 1997*-- paying an average of 15% more than non-trade related jobs.
Chemical Products Exports Are Up 76%. Chemical Products exports have increased 76% since 1993 from $3.8 billion to over $6.7 billion in 1997*-- creating more higher paying jobs for more people in New Jersey.
Over 10,000 New Construction Jobs In New Jersey. 10,200 new construction jobs have been created in New Jersey since 1993 -- after 50,200 were lost in the four years before President Clinton took office.
Household Income In New Jersey Increased By $1,560. Since 1992, real median household income in New Jersey has risen from $42,364 to $43,924.
* All figures for 1997 are annualized 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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