Today, the Bureau of Labor Statistics reported that 8 million jobs have been added to the economy in the three years since President Clinton took office.

"Four years ago, I said if America met its economic challenge by bringing down the deficit, investing in education and training, rewarding work and opening markets, we could spur a strong recovery that could help this economy create 8 million jobs in four years. It is a tribute to the hard work, ingenuity, and strength of the American people, that our economy has created more than 8 million jobs in just three years instead of four.

Even as we celebrate the creation of 8.4 million jobs, we must remember that much more must be done to ensure that our economy is working for all of our working families. This is no time to rest or move backwards. To keep America's job machine humming and our economy growing, we must get back to work on balancing the budget in a way that puts our people first."

--President Clinton, March 8, 1996

I. DEFICIT.

Four years ago: The deficit was $290 billion -- the highest dollar level in history.

Today. The deficit is $164 billion - nearly cut in half and the lowest as a share of the economy of any major economy in the world.

II. UNEMPLOYMENT

Four years ago: The unemployment rate was above 7% during every month in 1992.

Today. The unemployment is at 5.5% -- and has been below 6% for 18 consecutive months.

III. JOBS

Four years ago: One of the worst periods of private-sector job growth in history -- only 26,900 per month.

Today. 8.4 million new jobs -- and 211,000 private sector jobs per month, 7 1/2 times more private-sector jobs per month than during the previous Administration.

PROMISE MADE AND KEPT: 8 MILLION NEW JOBS!

• 8 Million New Jobs In 3 Years. During the Clinton Administration, more than 8 million jobs have been created -- nearly 8 times more in the private sector jobs per month than in the previous Administration. It took only 3 years for 8 million jobs to be created under President Clinton -- for comparison, it took nearly 5 1/2 years for 8 million jobs to be added during the Reagan Administration.

• A Better Annual Jobs Record Than Any Republican Administration Since the 1920s.

• Nearly 8 Times More Private-Sector Jobs per Month Than the Previous 4 Years.

• 93% Of The Job Growth Has Been In The Private Sector -- Best Since 1920s.

• After Losing More Than 250,000 Jobs in High-Wage Industries in the Previous Four Years, We Have Now Created Well Over Three Million.

Laying A Foundation For Growth And Turning The Economy Around.

President Clinton put the fiscal house in order and helped turn the economy around. Consumer confidence rose with the President's election and the introduction of the President's Economic Plan had an immediate positive impact on lowering interest rates, increasing business confidence, spurring new investment and strong job growth.

• Fortune, 10/3/94: "[President Clinton's] economic plan helped bring interest rates down, spurring the recovery."

• Lehman Brothers, 1/10/94: "Lower deficits, lower long-term rates and higher real growth was the overall promise. With the data now rolling in for December 1993, it seems clear that President Clinton delivered on all three counts over the second half of the year."

• Alan Greenspan, Federal Reserve Board Chairman: "The actions taken last year to reduce the federal budget deficit have been instrumental in creating the basis for declining inflation expectations and easing pressures on long-term interest rates." 1/31/94

  "The deficit reduction [from 1993]...was an unquestioned factor in contributing to the improvement in economic activity that occurred thereafter." 2/20/96

• Paul Volcker: Former Federal Reserve Board Chairman: "The deficit has come down and I give the Clinton Administration and President Clinton a lot of credit for that....and I think we are seeing some benefits." Audacity, Fall 1994

A STRONG RECORD OF JOB GROWTH UNDER PRESIDENT CLINTON

• 8 Million New Jobs. The economy has added 8.4 million new jobs under President Clinton's leadership -- that's a faster annual rate of job growth than any Republican Administration since the 1920s.

• The Combined Rate of Unemployment and Inflation Is At Its Lowest Level Since 1968.

• 93% Of The Job Growth Has Been In The Private Sector -- The Highest Percent Since The 1920s.

• A Better Private-Sector Jobs Record Than Any Republican Administration Since the 1920s. Nearly 7.8 million new private-sector jobs have been created -- that's a faster annual rate of private-sector job growth than any Republican Administration since Harding was President in the 1920s.

• Nearly 8 Times More Private-Sector Jobs Per Month Than Were Created In The Previous Four Years. Under President Clinton, the private sector has created 211,000 jobs per month, 7 1/2 times as many jobs per month as during the previous 4 years (26,900).

• The Unemployment Rate Has Dropped To 5.5%. The unemployment rate is at 5.5%, down from over 7% at the start of the Administration. There are now 2.0 million fewer people unemployed than at the start of the Administration, a 21% drop in the number of unemployed.

It Is Not Just The Quantity Of Jobs, But It Is The Quality Of Jobs.

• Turning The Corner on Jobs in High-Wage Industries. After losing 268,000 jobs in high-wage industries during the previous Administration, the economy has added well more than 3 million new jobs in high-wage industries since President Clinton took office.

• More jobs were created in high-wage industries in 1994 than in the previous five years combined. In 1995, more than

• Turning The Corner On Manufacturing Jobs. After losing 2.2 million manufacturing jobs over the 12 years prior to the Clinton Administration, the economy has added 172,000 manufacturing jobs since President Clinton took office.

• Turning The Corner On Auto Jobs. After declining by 49,000 during the previous 4 years, auto employment has increased by 79,000 during the Clinton Administration -- recently hitting their highest level since 1979.