MICHIGAN IS MOVING FORWARD WITH MORE JOBS AND TRADE
Michigan Is Moving In The Right Direction
Unemployment Is Down. The unemployment rate in Michigan has declined from 7.4% in January 1993 to 3.8% in July 1997.
Over 422,500 New Jobs In Michigan. 422,500 new jobs since 1993-- an employment growth rate nearly five times faster than the four years before President Clinton took office.
Exports From Michigan Are Up 70%. In the first 6 months of 1997, Michigan's goods exports were running at a rate of $43 billion -- up 70% since 1992. Michigan's exports of manufactured products were also up 42% from $29.3 billion to $42 billion in 1997*
502,900 Jobs In Michigan Are Supported By Trade. Jobs supported by goods exports increased 37% -- up 135,000 since 1992 to 502,900 jobs in 1997*-- paying an average of 15% more than non-trade related jobs.
Transportation Equipment Exports Are Up 49%. Transportation equipment exports have increased 49% since 1993 from $17.3 billion to $25.8 billion in 1997*-- creating more higher paying jobs for more people living in Michigan.
44,500 New Manufacturing Jobs In Michigan. 44,5900 new manufacturing jobs have been created since 1993-- where nearly 75,000 manufacturing jobs were lost the four years before President Clinton took office.
Household Incomes Are Up $1,978 In Michigan. Since 1993, real median household income in Michigan has increased by $1,978 -- from $34,448 in 1993 to $36,426 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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