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NEWS FOR THE WEEK OF JULY 24

The Economy Grew 2.5% In The 2nd Quarter Of 2006. First-Time Jobless Claims Fell By 7,000 Last Week To
(Bureau Of Economic Analysis Website, www.bea.gov, Accessed 298,000 – The 4-Week Average Fell By 4,250. (Robert
7/28/06) Schroeder, “Weekly Jobless Claims Fall To 298,000,” MarketWatch,
7/27/06)
• The Economy Has Grown 3.5% Over The Past 4
Quarters. (Rex Nutting, “GDP Slows To 2.5% In Second • The Number Of Continuing Claims Fell By
Quarter,” Marketwatch, 7/28/06) 23,000 – The 4-Week Average Was At Lowest
• The Economy Has Been Growing For 19 Level In 4 Months. (Robert Schroeder, “Weekly Jobless
Claims Fall To 298,000,” MarketWatch, 7/27/06)
Straight Quarters. (Bureau Of Economic Analysis
Website, www.bea.gov, Accessed 7/28/06)

In The Past 33 Months (Since Sept. 2003, Shortly After
The 2003 Tax Cuts Were Signed), The Size Of The U.S.
Economy Has Increased By 20% Or $2.2 Trillion. (Pete
DuPont, Op-Ed, “Rising Tide,” OpinionJournal.Com, 7/25/06)
New Orders For Durable Goods Increased 3.1%In
June. (Martin Crutsinger, "Orders For Big-Ticket Manufactured
Goods Post Unexpectedly Strong Gain In June," The Associated
Press, 7/27/06)

Wage And Salaries Increased 0.9% In The 2nd Quarter
Of 2006, The Best Gain Since The 1st Quarter Of 2003.
The U.S. Homeownership Rate Increased From 68.5% (Greg Robb, “U.S. Employment Costs Up 0.9% In Q2,” MarketWatch,
In The 1st Quarter Of 2006 To 68.7% In The 2nd Quarter. 7/28/06)
(Bureau Of The Census, “Census Bureau Reports On Residential
Vacancies And Homeownership,” Press Release, 7/28/06) The Percentage Of U.S. Workers Earning More Than
$50,000 Annually Rose From 40.8% To 44.2% Between
• The Hispanic Homeownership Rate Increased 2002 And 2004. (Pete DuPont, Op-Ed, “Rising Tide,”
From 49.4% To 50% While The African OpinionJournal.Com, 7/25/06)
American Rate Remained Virtually The Same,
47.2% (From 47.3% In The 1st Quarter). (Bureau Of • The Share Of Income Garnered By The Richest
The Census, “Census Bureau Reports On Residential Americans Is Lower Today Than Former
Vacancies And Homeownership,” Press Release, 7/28/06) President Clinton’s Last Year In Office. (Pete
DuPont, Op-Ed, “Rising Tide,” OpinionJournal.Com, 7/25/06)
More Than 2.5 Million Minorities Have Become
Homeowners Since 2002. (Office Of The Press Secretary, The The Conference Board’s Index Of Consumer
White House, “National Homeownership Month, 2006,” Press Confidence Increased To 106.5 In July From A 105.4 In
Release, 5/24/06) June. (Greg Robb, “Confidence Increases Slightly In July,”
MarketWatch, 7/25/06)

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