OS X uses emacs key binding my default. This is true is virtually every application on OS X, it's rather nice. It means things like C-a and C-e are beginning/end of line. You also get the nifty backward-word-kill with M-backspace, oh, and kill-line with C-k.
This should mean that in your terminal forward/backward-word are bound to M-f and M-b, respectively (M = Meta = alt/option), however that is not the case. On OS X forward/backword-word are bound to M-→ and M-← by default.
You can alter this behavior by changing how the GNU Readline Library is configured for your account. This takes place in your ~/.inputrc file. You can get a big list of bindable commands with man readline as well as in the online documentation like this here..
So to answer your question, you want to remap what Readline does when it sees C-→ and C-← to do what it does on your linux server.
The syntax for a ~/.inputrc file is pretty simple for what you want to do: key-sequence: action.
This should be what you need to get the desired behavior:
"\e[5C": forward-word
"\e[5D": backward-word
Here's another page with additional useful bindings.
(You could probably get away with copying /etc/inputrc from your linux box to your OS X ~/.inputrc)
Best Answer
Yes, sort of - using the psjob commands (requires Powershell 2)
http://richardspowershellblog.wordpress.com/2007/12/03/background-jobs/
Edit: The site has the names wrong. It's 'start-job' instead of 'start-psjob'
See 'help start-job' for the complete (and correct) information.