Ah. The Economist issues a correction:
Economist.com: Last week (“Cursed by lagging perceptions”) we suggested that the current pace of job growth (an average of 238,000 new jobs per month this year) meant that a forecast published in February by George Bush's Council of Economic Advisers, which suggested 2.6m new jobs would be created in 2004, might prove too low. In fact, the CEA'S forecasts were based on calendar-year averages, not year-end figures, and their calculations actually implied the creation of more than 320,000 new jobs per month during 2004.
320,000 per month is 3.8 million over the calendar year.
The Wall Street Journal, however, has not yet corrected its June 8 observation that "readers may recall that chief White House economist Greg Mankiw was widely ridiculed in February for predicting that the economy would create 2.6 million new jobs this year."
And I don't believe that the Wall Street Journal ever will.
Posted by DeLong at June 19, 2004 09:14 PM
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Was the original statement in the WSJ or the WSJ editorial page?
Those are two vastly different papers you know, frequently at odds with each other when it would appear the facts are biased. The WSJ would issue a correction; the editorial page would not.
Posted by: Alan on June 20, 2004 07:48 AMNice work, Brad. This page was the primary source for making that point.
Posted by: KevinNYC on June 20, 2004 10:29 AMAre you talking about The Wall Street Journal editorial page? Even some of the harshest critics of that admit that the paper's news pages are top-notch.
Posted by: Brian on June 20, 2004 07:59 PMIf you are always pressing the envelope, you will suffer many paper cuts.
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