racoma.com.phJ. Angelo Racoma on technology, economics, writing, problogging, and getting things done

Dave points out a mistake by leading business and financial publication Bloomberg made in citing Philippine unemployment statistics.

… the data used is a year old when the NSO was still using the old definition of “unemployment”! It means the reporter simply downloaded last year’s NSO report without examining the date and started interviewing people around. The editors simply uploaded the report to its server without examining its accuracy. This could have been so easy to detect. Woe unto those who downloaded and run it.

I admire Bloomberg as a media institution but this booboo proves its people are human too. It should issue a correction.

In an IM conversation, Dave mentioned that he posted this with the aim of having Bloomberg notice and correct its mistake. “Seems like that’s the role of blogs,” Dave points out.

Yes, Dave. Blogs are a great feedback mechanism, especially for mainstream media. And this feedback mechanism, which I would like to highlight is almost instant, is something mainstream media does not have–at least not for now. Yet another benefit of “Web 2.0!”

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