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		Home Page Mortgage News You Can Use Bush Says Nation's Job Outlook Improving By DEB RIECHMANN Associated Press Writer WASHINGTON (AP) -- President Bush, facing a loss of public confidence in his handling of the economy, is highlighting positive economic news he says is evidence of jobs growth, a key issue in the presidential election. The nation's unemployment rate dipped to 5.6 percent in January, the lowest level in more than two years, Bush noted Saturday in his weekly radio address. "The past few weeks have confirmed that America's economy is strong, and growing stronger," he said. "Overall, the nation has added 366,000 jobs in the past five months." Companies added 112,000 new U.S. jobs overall in January, marking the fifth straight month of payroll gains and the largest in three years. Still, that was a disappointment to economists who had been expecting the economy to add 150,000 new jobs or more. In the Democratic radio response, Detroit Mayor Kwame Kilpatrick lamented the loss of 140,000 manufacturing jobs in Michigan since Bush took office three years ago. Kilpatrick said the best way to create jobs in America is for the federal government to invest in the nation's cities. "Dollars must be directed to rebuilding our cities' public works and transportation systems - and developing new systems like high-speed rail," Kilpatrick said. "We must invest in roads, bridges, ports, and buildings vital to commerce - and we must wire our cities to be competitive in the global, high-tech economy." A new Associated Press-Ipsos poll found that public perception of Bush and of the nation's economy slumping. Just over four in 10 said the country is headed in the right direction, while just over half said the country was on the wrong track. People were about evenly split on this question in early January. Bush, however, expressed optimism that a recovery was well under way. He cited low inflation and recent increases in factory orders. He also noted that the Gross Domestic Product rose at 6.1 percent in the second half of last year, the fastest pace in nearly 20 years. "All of these are signs that our economic recovery is becoming a lasting expansion," the president said. "Yet, many of the new jobs being created require workers to learn new skills. Bush urged Congress to pass a plan to help students who fall behind in reading and math, expand advanced placement programs in low-income schools and provide larger Pell grants for students who prepare for college with demanding courses in high school. He also has asked Congress to provide $250 million to community colleges to help Americans get the skills they need to land jobs in high-growth fields. Copyright 2004 Associated Press. All rights reserved.   Back to Original Article: Mortgage News You Can Use   Continue with: G7 Says Currency Volatility a Growth Risk G7 sends powerful warning to Argentina-officials In Bush's Policies, Business Wins Bush the Budget Buster Bush the Budget Buster part two In GOP Country, Job Fears Economic indicators: The Week Ahead Bonds Economy Reacts to Jobs Report Dollar Diplomacy U.S. Wins Support for Dollar Flexibility U.S., 13 Nations Negotiate Trade Deal Sluggish Job Growth May Threaten Recovery Bush Defends Economic Record as War President Corporate Profits Don't Lead to Hiring
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