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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."

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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




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