November 4, 2005
JS-3010

Statement of Treasury Secretary John W. Snow
On October Employment Report

"Today's report that 56,000 new jobs were created in October is the latest evidence that the fundamental strength of the American economy is helping the nation overcome the challenges presented by the Gulf Coast hurricanes and high energy prices.

"Last week's GDP report that the economy grew at a strong rate of 3.8 percent in the third quarter showed the resilience of an American economy on a steady path of growth.

"By reducing taxes and pursuing pro-growth economic policies, the President has put the economy on the right course.   The President's commitment to fiscal discipline and making the tax cuts permanent is key to sustained economic growth."