RHODE ISLAND IS MOVING FORWARD WITH MORE JOBS AND TRADE
Rhode Island Is Moving In The Right Direction
Unemployment Is Down. The unemployment rate in
Rhode Island has declined from 8.2% in January 1993 to
5.5% in July 1997.
16,700 New Jobs In Rhode Island. Since 1993,
16,700 new jobs have been created in Rhode Island after a
loss of 37,000 over the four years before President Clinton took office.
Exports From Rhode Island Are Up 57%. In the
first 6 months of 1997, Rhode Island's goods exports were
running at a rate of $1.2 billion -- up 57% since 1992. Rhode Island's
exports of manufactured products were
also up 25% from $899 million to $1.1 billion in 1997*.
14,400 Jobs In Rhode Island Are Supported By
Trade. Jobs supported by goods exports increased 26% -- up
3,000 to 14,400 in 1997*-- paying an average of 15% more than non-trade
Electronic and Electric Equipment Exports Are Up
68%. Electronic and Electric Equipment exports have
increased 68% since 1993 from $119 million to over $201 million in
1997*-- creating more higher paying jobs
for more people in Rhode Island.
1,600 New Construction Jobs In Rhode Island.
1,600 new construction jobs have been created in Rhode
Island since 1993 -- after 8,400 were lost in the four years before
President Clinton took office.
Household Income Has Increased By $2,302. Since
1992, real median household income in Rhode Island
has increased to $35,359, from $33,057.
* 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
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
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
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
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