"The Job Market, Unvarnished" (Editorials, Oct. 25, 2004)
In "The job market, unvarnished," (Editorials, Oct. 25), we erred in saying that the Federal Reserve believes that the Bureau of Labor Statistics payroll survey is the best available for calculating the unemployment rate. It is the BLS household survey data that are used to calculate the unemployment rate. The Fed believes the payroll survey is the best measure of employment growth. A report on the holiday shopping season, ("Santa's feeling strapped this year," Marketing, Nov. 8), should have noted that Coach Inc. CEO Lew Frankfort is upbeat about his company's outlook and that he was referring to the general retail climate as "tough."