From Reuters, 2/17/04:
http://msnbc.msn.com/id/4297521/
Treasury chief hedges on jobs forecast
Snow upbeat, but won't stick to 2.6 million projection
RICHLAND, Wash. -
U.S. Treasury Secretary John Snow said on Tuesday he was certain
employment growth will pick up as the economy strengthens but steered
clear of firm jobs forecasts as he toured the Pacific Northwest.
On a two-day swing by luxury bus through hard-hit areas of Washington
and Oregon with Commerce chief Donald Evans and Labor Secretary Elaine
Chao, Snow was asked whether he agreed with a White House forecast
that 2.6 million new jobs will be created this year.
"I think we are going to create a lot of jobs. How many I don’t know,
but we’re going to keep working on it," Snow said when asked about the
2.6-million figure presented last week in the Economic Report of the
President.
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http://money.cnn.com/2004/02/10/news/economy/jobs_forecast/index.htm?cnn=yes
When the Bush administration issued the Economic Report of the
President Monday, several news organizations reported there would be
2.6 million new jobs this year.
But that number was based on the difference between projected average
payrolls for this year and last year.
In order to achieve that number, a White House source explained
Tuesday, the President's Council of Economic Advisers (CEA) is
forecasting about 320,000 new jobs will be created every month this
year.
That would be about 3.8 million in total, or about 2.9 percent higher
than the December 2003 total estimated by the Labor Department.
Well how about that.
Harry
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