Subscribe to Money Magazine
CNN/MoneyWeb
News > Jobs & Economy
graphic

Snow sees 4% GDP growth
Treasury Secretary expects 200,000-300,000 new jobs a month as economy recovers.
June 20, 2004: 8:21 PM EDT

Treasury Secretary John Snow  
Treasury Secretary John Snow

WASHINGTON (CNN) - The U.S. economy should grow by more than 4 percent in the coming quarters, and it is "reasonable" to expect the creation of between 200,000 and 300,000 jobs a month as the economy recovers, Treasury Secretary John Snow said Sunday.

"We've just come off the strongest three-quarter GDP (gross domestic product) growth in 20 years, and [in] the last three months, we've created nearly a million jobs," Snow said in an interview with CNN's Late Edition With Wolf Blitzer. "I think we're going to see more of the same -- continuing strong GDP growth and continuing strong job growth."

Though polls still show a majority of Americans disapprove of the way President Bush is handling the economy, Snow said those numbers often lag behind swings in the economy.

Snow also said the war in Iraq has "deflected attention" from the recovery, predicting that will change as good economic numbers pile up.

"The news on the economy... is so good and so pervasive, so far-reaching, that I think people will change their views here," he said.

Snow declined to offer his own estimate of job growth in the coming months. However, he said estimates by private forecasters of between 200,000 to 300,000 months a month look "reasonable."

YOUR E-MAIL ALERTS
Economic Indicators
Economy
Business and Industry

He also said "internal assumptions" within the administration match private forecasts of a growth rate in the coming quarters of between 4 and 5 percent, which he described as "terrific."

"It's well over the long-term average of the economy, and it's a growth rate that assures us that we'll see lots of good jobs created," he said.  Top of page




  More on NEWS
JPMorgan dramatically slashes Tesla's stock price forecast
Greece is finally done with its epic bailout binge
Europe is preparing another crackdown on Big Tech
  TODAY'S TOP STORIES
7 things to know before the bell
SoftBank and Toyota want driverless cars to change the world
Aston Martin falls 5% in its London IPO




graphic graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.