Bush Visits Home Depot Store to Tout U.S. Economy By Randall Mikkelsen
HALETHORPE, Md. (Reuters) - President Bush (news - web sites) visited workers from the booming housing sector of the U.S. economy on Friday as he sought to convince a still-wary public that the U.S. economy was firmly on the rebound.
"We're growing. This economy's good. It can be better," Bush told an audience of workers, suppliers and customers at a Home Depot store just outside Baltimore.
The choice of venue was part of a White House effort to highlight a fast-growing sector of the U.S. economy, housing. Booming housing sales and a hot market for home renovations have helped fuel sales of tools, lumber and other materials at stores like Home Depot.
But new figures released on Friday by the Labor Department (news - web sites) showed the job market has yet to catch up with an economy that shot ahead in the third quarter at break-neck pace of 8.2 percent.
Companies created 57,000 new jobs in November. Although that was the fourth straight monthly gain in employment, it fell far short of 150,000 private economists had expected.
However, in a positive sign, the jobless rate dropped to an eight-month low of 5.9 percent.
"More jobs are being created," Bush said.
Polls have suggested that despite upbeat economic figures such as the jump in gross domestic product, Americans remain concerned about their jobs, a potential hurdle for Bush who faces an election in November 2004.
"ROBUST ECONOMY"
Sitting in front of shelves stocked with paint and plywood in Home Depot's garden department, Bush spoke with panelists about the economy as he sought to emphasize his message that growth was picking up.
Home builder Jim Montgomery said low interest rates had spurred demand for homes and tax changes had made it easier for him to buy equipment.
"We are at capacity ... It's a very robust economy," he said.
But not all Americans share his optimism.
A poll this week by Zogby International said 20 percent of those surveyed in mid-November were afraid they or an immediate family member would lose a job within the next year. Also, 21 percent said they were earning less in their current job than their previous one.
"The optimism of a rebounding economy hasn't yet trickled down to Main Street, USA," Zogby said.
While at the store, Bush jokingly expressed an interest in buying a chain saw but said he had not brought his credit card.
He stopped at Home Depot after speaking at a $1 million fund-raising reception in Baltimore for his re-election campaign.
His presidential motorcade had driven for nearly an hour through a wet snowstorm up from Washington, after the wintry weather grounded his Marine One helicopter.
The Public Citizen political watchdog group said Bush's stop at Home Depot appeared linked to $1.5 million in political donations it said the chain's employees and families have given to the Bush campaign and Republican Party since 1999.
Maryland has been one of the country's most Democratic states in recent presidential elections, voting for Democrat Al Gore (news - web sites) by a 57-to-40 percent margin in 2000.