Even though Wall Street found the latest jobs report disappointing, President Bush Saturday cited it as a sign of economic health and predicted further job growth ahead.

Major Market Indices

“This week we received additional reports that America’s economy is gaining strength,” Bush said in his weekly radio address.

Bush predicted “a solid path of recovery” for the economy, which he said should set the stage for more hiring.

“With strong sales and improving profits, companies will continue to hire new workers in the coming year,” he said.

Closely watched data from the Labor Department Friday showed a 57,000 rise in U.S. payrolls in November and a drop in the jobless rate to an 8-month low of 5.9 percent.

Bush cited that, along with data on manufacturing activity and worker productivity, as an indication growth was picking up.

Although the jobs trend has clearly improved in recent months, private economists viewed the November gain as surprisingly tepid and the stock market moved lower in reaction to it.

Copyright 2012 Thomson Reuters. Click for restrictions.


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