[lbo-talk] White House Projects 2.6 Million Jobs Created This Year

Doug Henwood dhenwood at panix.com
Tue Feb 10 18:32:44 PST 2004


Miles Jackson wrote:


>
>
>On Tue, 10 Feb 2004, Brad DeLong wrote:
>
>> Yep. Greg Mankiw has taken a dive on the employment growth
>> "projection" (I can't call it a forecast or an estimate).
>>
>> He has, curiously enough, held the line on the GDP growth projection.
>> The result is that the CEA is implicitly assuming that productivity
>> will not grow at all in this calendar year.
>
>So it's the new, new economy? Doug, quick, write another book!

But if the WH is right on jobs, and wrong on productivity, we could have Chinese levels of GDP growth this year! Wouldn't that be exciting?

Doug



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