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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (489377)	11/7/2003 7:27:59 PM
From: Thomas A Watson	Read Replies (1) \| Respond to of 769670

Global Economy: U.S. Jobs, OECD Survey Fan Optimism Fri November 7, 2003 01:22 PM ET (Page 1 of 2) By Sarah Edmonds WASHINGTON (Reuters) - The global economic outlook took on a rosier hue on Friday after a surprisingly large surge in U.S. jobs and a key report from the OECD showing prospects for the world's top economies have brightened significantly. The number of workers on U.S. payrolls outside the farm sector soared 126,000 in October, the largest rise since January, the Labor Department said in a key report which also made sharp upward revisions to August and September figures. The U.S. unemployment rate was also more upbeat than expected, falling to 6.0 percent from September's 6.1 percent. "The jobless recovery is over," Wells Fargo economist Sung Won Sohn declared in a report. Bond markets turned south on the stronger-than-expected numbers but the dollar and stock markets edged higher on economic hopes. And the news prompted the White House to predict further robust gains -- something the Bush administration is counting on as it heads into a presidential election in 2004. In a further piece of global good news, the Organization for Economic Cooperation and Development's September monthly early warning indicator reinforced the optimistic message from a clutch of recent data. It said things were looking up for the United States and Japan, and to a lesser extent the euro zone and Britain. ICING ON GOOD WEEK The week has been filled with buoyant U.S. numbers on manufacturing, services and productivity, along with separate reports on European and British services, bolstering the impression the global recovery was taking root. The OECD's overall gauge of economic prospects rose in September for the Group of Seven leading industrialized countries, with the index hitting 124.0 after 122.6 in August. The U.S. measure grew to 135.9, from 134.8 -- the sixth straight monthly rise. For Japan, it rose to 106.0 from 104.5. reuters.com