But Treasury Secretary John Snow portrayed them as validation of the administration's tax-cutting strategy. "Roughly 2.4 million jobs have been created since August of 2003, with 2 million so far in 2004," he said in a statement.
The question now is whether this pace of job growth is sustainable or whether businesses will revert to the reluctance to spend money that has characterized their behavior since the economy sank into recession in March 2001.
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