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Giuliani Campaign Press Release - Rudy Makes ¢ents Day Five: Under Mayor Giuliani, New York's Private Sector Regained Its Strength

October 09, 2007

"When you reduce the burden of government, on the other side of this what happened is the unemployment rate was cut in half, the number of jobs grew … the number of people that were working went up dramatically, and new businesses came back to the city."

– Mayor Rudy Giuliani, Remarks On Commitment To Fiscal Discipline, Des Moines, IA, 6/20/07

UNDER GIULIANI, NEW YORK'S ECONOMY SKYROCKETED

Under Giuliani, Real GDP In New York City Increased 35.44% – Averaging 4.43% Per Year And Outpacing National GDP Growth By 13.2%. (Monthly Report On Current Economic Conditions, City Of New York Office Of Management And Budget, 5/2/03)

UNEMPLOYMENT CUT IN HALF DURING GIULIANI'S TENURE

New York City Unemployment Was Cut In Half From 10.4% In January Of 1994 To A Low Of 5.0% In May Of 2001. (New York State Department of Labor, New York State Workforce & Industry Employment And Unemployment Data, www.labor.state.ny.us/workforceindustrydata, Accessed 3/12/07)

During Same Period, National Unemployment Rate Fells Just 34.3%, From 6.7% In January 1994 To 4.4% In May 2001. (Robert D. Hershey Jr., "Unemployment Is Put At 6.7% By New Method," The New York Times, 2/5/94; Martin Crutsinger, "U.S. Unemployment Dips Slightly To 4.4 Percent In May," The Associated Press, 6/1/01)

HUNDREDS OF THOUSANDS OF NEW JOBS CREATED

As Giuliani Took Office In 1994, The New York Times Reported "Some 320,000 Jobs Have Vanished Since 1989." (Chip Brown, "Escape From New York," The New York Times, 1/30/94)

Under Mayor Giuliani, 423,000 New Private Sector Jobs Were Created. (New York State Department of Labor, New York State Workforce & Industry Private Employment Data, www.labor.state.ny.us/workforceindustrydata, Accessed 3/12/07)

PERSONAL INCOMES INCREASED

Personal Income In New York City Increased By 49.93%. (U.S. Department Of Commerce Bureau Of Economic Analysis, Regional Economic Information Systems, Downloadable Files Available At www.bea.gov/regional/docs/reis2004dvd.cfm)

Per-Capita Personal Income In New York City Increased By 41.64%, From $137,261 In 1993 To $194,419 In 2001. (U.S. Department Of Commerce Bureau Of Economic Analysis, Regional Economic Information Systems, Downloadable Files Available At: http://www.bea.gov/regional/reis/CA1-3fn.cfm, Accessed 8/14/07)

BUILDING PERMITS ROSE

Building Permits Increased By More Than 63 Percent, To 87,000 In FY 2001 From 53,000 In FY 1993. (City Of New York Office Of Operations, Fiscal Year 1999 Mayor's Management Report, p.57; City Of New York Office Of Operations, Fiscal Year 2001 Mayor's Management Report, p. 469)

Rudy Giuliani, Giuliani Campaign Press Release - Rudy Makes ¢ents Day Five: Under Mayor Giuliani, New York's Private Sector Regained Its Strength Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/295425

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