White House officials decline to endorse jobs forecast
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Manufacturing News, Source : TheManufacturer.com
Published : 18 Feb 2004 20:08
Two members of the Bush cabinet declined to endorse a forecast made in a White House report earlier this month, which predicted that 2.6 million jobs would be created in 2004.
Secretary of the Treasury John Snow and Secretary of Commerce Donald Evans, on a tour of Pacific Northwest states to tout the administration’s economic policies, did not endorse the numbers. Secretary Snow said the forecast was based on “a lot of assumptions” and was “not without a range of error.”
The forecast was made in the annual Economic Report of the President, released earlier this month. The White House predicted the number of workers on US non-farm payrolls would reach an average to 132.7 million this year, up from a 2003 average of 130.1 million it had expected based on December 2003 data. Payroll employment in 2003 actually averaged 129.9 million, according to figures released earlier this month by the US Department of Labor.
In 2003, the Bush administration had been aiming for the creation of about 1.7 million jobs, but instead an additional 53,000 jobs were lost. More than two million jobs in the manufacturing sector alone have been lost since President George W. Bush took office in January 2001.
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