December 23, 2024
Column

Maine receives good news in May jobs report

The latest economic news is in and it is good news for Mainers. In a state-specific employment numbers report, the U.S. Bureau of Labor Statistics reported earlier this month that Maine added 2,100 jobs in the month of May. These seasonally adjusted numbers are confirmation of the good news the media has been slow to report. The economy is on a strong path to a solid recovery nationwide and here in Maine because of President Bush’s aggressive tax relief and his confidence in the American people.

Nationwide, 1.4 million jobs have been added since last August. As each of the states received their jobs numbers reports, the news was good across the country. In 44 of the 50 states, job creation has risen in the last year and unemployment is down in 46 of the 50 states. In Maine, unemployment dropped to 4.1 percent in May, a rate lower than the national unemployment rate and far lower than Maine’s 6 percent unemployment rate experienced during the 1990s.

Despite corporate scandal, the decline in the stock market, September 11 and a global war on terror, economic growth over the last year has been the fastest in nearly 20 years and the recession President Bush inherited was one of the shallowest in modern American history because of his 2003 Jobs and Economic Growth tax plan. The president’s tax package provided relief for all taxpayers, it repealed the death tax helping to preserve family farms and businesses and gave small businesses new incentives to invest and expand. President Bush not only had confidence in the American people, he had faith they could make the best decisions with their own hard earned money and the American people proved he was right.

As this economic news becomes increasingly harder to avoid, John Kerry is conducting a tour of pessimism across the country to talk down the recovery and remind people how miserable he thinks they should be. Since he can no longer discuss the jobless recovery, Kerry is complaining about the quality of jobs being created. His pessimistic assertions only carry so much weight when confronted with the facts. Strong growth and increased productivity are creating better paying jobs. In fact, two-thirds of the 1 million added payroll jobs have been in industries that pay more than the national average for non-supervisory workers. Over the past year, personal incomes have grown 5.7 percent and salary income has grown by almost 5 percent.

Homeownership statistics also point to a growing economy. Homeownership is near record highs and existing single-family home sales rose in May to the highest monthly pace on record. In addition, household wealth is near a record high.

The president has shown what tax relief can do for a struggling economy and we need to secure this growth so that businesses have the confidence to invest and expand which will further strengthen our economy. Now is not the time to gamble with someone who brings with him a long record of support for higher taxes and consistently changes positions on the issues based on how it will help him, not the American people. Now is the time to continue to support President Bush, a strong leader whose tax relief policies have spurred an economic recovery and is putting Mainers back to work.

In a recent speech to the National Federation of Independent Businesses, the president stated “You can’t lead unless you understand the strengths of America.” The president knows our nation’s economy is built on a strong work ethic and bold entrepreneurial spirit. He understands the support working families and businesses need to succeed. He is leading America with an optimistic vision that is helping us rise to the challenge and contribute to a healthy economic environment that benefits all Americans.

Jim Donnelly, former State House Republican leader, is a state regional chairman of the Bush-Cheney ’04 campaign.


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