Unemployment

AP: 'Good Economic News Something of a Mirage'

By Noel Sheppard | May 10, 2008 - 16:57 ET

In the past several months, NewsBusters has seriously questioned the reporting of the Associated Press's Jeannine Aversa given her proclivity to misrepresent economic data.

On Saturday, Aversa wrote an opinion piece that fully explained why she sees gloom and doom in every government statistic regardless of whether or not it's warranted.

Here's how Aversa began her analysis entitled "Good Economic News Something of a Mirage" (h/t NB reader R Anthony, emphasis added throughout):

AP's Crutsinger 'Clings to Recession' Despite Improving Data

By Tom Blumer | May 8, 2008 - 09:58 ET

The Associated Press's business writers just won't let go of their claim (or is it audacious hope?) that we are in a recession -- not heading towards one, but actually in one.

Despite yet another decent economic report, this one on productivity, the AP's Martin Crutsinger downplayed a significant beating of expectations, and continued to invoke the R-word (bolds are mine):

Worker productivity rose by a better-than-expected amount in the first three months of the year while labor cost pressures eased.

The Labor Department reported Wednesday that productivity, the amount of output per hour of work, increased at an annual rate of 2.2 percent in the first quarter. That was slightly higher than the 1.5 percent increase that had been expected.

Bozell Blames Media for Public’s Economic Misconceptions

By Nathan Burchfiel | May 5, 2008 - 09:31 ET

The network news broadcasts are to blame for the American people's widely held misconception that the U.S. economy is in a recession, according to Media Research Center founder and President L. Brent Bozell III.

"How in the world is it that 81 percent of the American people believe that we're in a recession?" Bozell asked on CNBC's "Kudlow and Company" May 2. "Maybe it's because the national networks this year, and we've counted it, have talked about a recession over 500 times."

Oops: Employment Numbers Better Than Expected, Unemployment Drops

By Noel Sheppard | May 2, 2008 - 09:20 ET

Despite all the gloom and doom, the employment picture in April was much better than economists had expected, and, maybe more important, quite different than the Hooveresque, Depression Era picture media members have been painting for months.

Makes you wonder if in press rooms all around America, as well as in Democrat campaign headquarters across the fruited plain, there was a huge sigh of disappointment at 8:30 AM EDT when the Labor Department released the data.

Critical updates at end of post including FAR better-than-expected factory orders report!

As such, without further ado, here's the news most people in the nation actually hoping for a good economy will be glad to hear:

'Today' Interview: Barack's Bitter-gate Rephrasing No Better

By Mark Finkelstein | May 1, 2008 - 08:26 ET

Would it have been any better for Barack Obama to have said people "rely" on bigotry rather than "cling" to it? I don't think so, but apparently he does . . .

This morning's "Today" aired an extended clip from an interview Meredith Vieira recently conducted of Barack and Michelle Obama. The full interview will be shown Saturday on MSNBC. While I didn't detect any blockbuster moments, there were a few notable nuggets.

On the issue of why he didn't distance himself from Rev. Wright sooner, Obama says: "When those first snippets came out, I thought it was important to give him the benefit of the doubt." That would suggest Obama actually had some doubt as to where Rev. Wright stood. Is that credible, after 20 years in the angry pastor's pews?

View the entire "Today" excerpt here.

Then there was this exchange about Bitter-gate.

AP Disgrace: 'Bruised Economy Grows by Only 0.6 Percent'

By Noel Sheppard | April 30, 2008 - 09:47 ET

The Associated Press's Jeannine Aversa really should change her writing focus, because economics is clearly not her specialty.

After telling readers in March that "Dangerous cracks in the nation's job market" are "ominous signs that the country is falling toward a recession or has already toppled into one," Aversa had the gall to report Wednesday, "The bruised economy limped through the first quarter of this year at a six-tenths of a percentage point growth rate as housing and credit problems forced people and businesses alike to hunker down."

Are you joking? You, your wire service, and virtually every media outlet in the nation have been telling Americans that we're already in a recession. A government report comes out saying that we're not, and this is how you begin your article covering the surprising announcement?

How disgraceful. Sadly, that was just the beginning (emphasis added, h/t NB reader PunditDotCom):

CBS Morning Show: Middle Class 'Facing Hunger'

By Paul Detrick | April 28, 2008 - 16:06 ET

High food prices may be affecting middle-income families, but an anecdotal report on CBS's "The Early Show" April 28 made the situation seem as if one family's use of a food bank was "the new face of hunger."

CBS reporter Priya David highlighted Pablo and Ada Melecio, a couple who recently lost their jobs and have elected to use a food bank to make ends meet. Ada Melecio said their "mortgage payments started falling behind and all the interest on that plus all the credit cards" were making their situation even worse.

Huffington Concedes Her Lifestyle is 'Contradiction' to Global Warming Agenda

By Brad Wilmouth | April 26, 2008 - 16:13 ET

Friday's 20/20 aired a piece on liberal columnist Arianna Huffington in which ABC host John Stossel got to challenge Huffington's views on issues like welfare, OSHA regulations, and the "lunatic fringe" of the Republican party. When Stossel took her to task for living in a $7 million home that is "burning more carbon than 100 people in the Third World" even while she is part of the "war on global warming," Huffington responded: "There is no question that the fact that I'm living in a big house, I occasionally travel on private planes, all those things are a contradiction. I'm not setting myself up as some paragon who only goes around on a bicycle and lives by candlelight." (Transcript follows)

Oklahoma Unemployment Is Way Down. Will Media Look into Why?

By Tom Blumer | April 22, 2008 - 10:05 ET

Oklahoma's unemployment rate, which was a seasonally adjusted 4.3% and 4.4%, respectively, in September and October 2007 (4.1% and 4.2% unadjusted), has fallen to a seasonally adjusted 3.1% in both February and March of this year (3.5% and 3.2% unadjusted).

The unemployment rate in most states has gone up from September 2007 to March 2008. In states where the rate has gone down, none has shown an improvement like that seen in the Sooner State -- not even close.

Why is that?

What has happened in Oklahoma that hasn't happened elsewhere?

Well, one thing Oklahoma did last year was to pass an enforcement-focused immigration reform law.

Will Media Question False Economic Statistics in DNC Ad Bashing McCain?

By Noel Sheppard | April 20, 2008 - 13:15 ET

For months, NewsBusters has been warning readers of the likelihood that media will adopt the 1992 Clinton playbook of regularly depicting the economy as being far worse than it really is.

On Sunday, the Democratic National Committee released a new television advertisement attacking GOP presidential candidate John McCain with economic statistics that don't measure up to even the slightest scrutiny.

With this in mind, will press outlets this campaign season investigate the economic claims being made by the candidates and their supporters, or allow inaccuracies present in this ad (embedded video to the right), and likely others in the months to come, to go completely unchallenged?

Consider the following written statement in this ad supposedly answering the question "Are Americans better off than they were 8 years ago?":

Obama's Windmill-Based War on Poverty

By Mark Finkelstein | April 14, 2008 - 06:49 ET

Do we all get free wooden shoes? Barack Obama didn't say. But he does have an Impossible Dream to cut poverty that would make Don Quixote proud. Put people to work . . . building windmills. His idea came in response to a question at last night's Compassion Forum on CNN from Jim Wallis, a leading member of the religious left whose focus is "social justice." Wallis wanted Obama to commit to a new War on Poverty.

View video here.

JIM WALLIS: As you reminded us a week or two ago, when Dr. Martin Luther King, Jr. was killed 40 years ago, he wasn't just speaking about civil rights. He was fighting for economic justice. Was about to launch a poor people's campaign. Yet, four decades after the anniversary of his death, the poverty rate in America is virtually unchanged and 1 in 6 of our children are poor in the richest nation in the world. So in the faith community, we are wanting a new commitment around a measurable goal, something like cutting poverty in half in ten years. Would you commit -- would you at this historic compassion forum, commit to such a goal tonight and if elected, tell us how you would mobilize the nation, mobilize us to achieve that goal?

Surely, you'd think, the candidate wouldn't fall into that big-government trap. Think again . . .

Obama Channels Marx on Masses' Reverence for Religion

By Mark Finkelstein | April 12, 2008 - 07:56 ET

CORRECTION: This item originally cited Ace of Spades as having uncovered that Obama's mentor was Frank Marshall Davis, a man with Communist roots. It was in fact Cliff Kincaid at Accuracy in Media. I regret the error.

Religion is the opiate of the masses. -- Karl Marx, 1843

It's not surprising that they get bitter, they cling to . . . religion . . . as a way to explain their frustrations. -- Barack Obama, 2008

Has anyone else pointed out the striking similarity between Barack Obama's recent statement about tough economic times driving people to religion and that of another person who preached change: Karl Marx?

Obama added guns and xenophobia to his list of proletarian elixirs for bitterness. But the fundamental point remains: Barack apparently doesn't take religion, his own or anyone else's, too seriously. It's not a search for truth or an attempt to live in accordance with God's word. It's just a way to get by, a stupefacient that helps proles endure the pain of living in an economy unfairly dominated by the "haves." Karl would concur.

This morning's Today did take up the controversy that Obama's remark has kicked up. View video here.

AP: Is It 'Recession No Longer a Question' or 'Widening Agreement'?

By Tom Blumer | April 5, 2008 - 12:58 ET

Is it just me, or is the Associated Press's Jeannine Aversa doing an end-zone dance because she thinks that the recession Old Media has been pining for has finally arrived?

Someone needs to remind her that one negative quarter, if it even occurs, does not a recession make.

In an early-Saturday story on the economy, Aversa treated the recession as a lock in her first paragraph, even though the fifth paragraph betrayed uncertainty (bolds are mine):

It's no longer a question of recession or not. Now it's how deep and how long. Workers' pink slips stacked ever higher in March as jittery employers slashed 80,000 jobs, the most in five years, and the national unemployment rate climbed to 5.1 percent. Job losses are nearing the staggering level of a quarter-million this year in just three months.

Old Media's Seasonally Ignorant Employment Reporting

By Tom Blumer | April 4, 2008 - 18:03 ET

Did you know that 574,000 and 1.1 million more Americans had jobs in March than in February and January, respectively?

Seriously, as you can see on the right (data can be retrieved from this BLS page; select the very first "not seasonally adjusted" table).

Now the fact remains, as you can also see, that job growth during the past two months is nowhere near as great as it was during the same two months in 2006 (1.91 million) or 2007 (1.58 million). This goes a long way towards explaining why total employment, when adjusted for seasonality, fell 80,000 during March, and by 232,000 during the first quarter.

There's no denying that the employment situation has been deteriorating for several months, and I'm not trying to minimize that. What I am saying is that the "employees were thrown out on the streets during March" narrative cooked up by Old Media today, including the Associated Press's Jeannine Aversa, is clearly false, either because Old Media reporters and their editors don't understand a concept as basic as seasonality, or they don't want to.

CBS ‘Early Show’ Asks ‘Is America Broken?’

By Kyle Drennen | April 4, 2008 - 12:07 ET

NewsBusters.org - Media Research CenterTouting a new CBS News/New York Times poll on Friday’s CBS "Early Show," co-host Maggie Rodriguez teased an upcoming segment on the poll’s findings: "Is America broken? In a new CBS News poll, 81% of Americans believe this country's on the wrong track. Never has that number been so high."

Co-host Harry Smith later introduced the segment by declaring: "A new CBS News/New York Times poll shows 81% of Americans say the country is headed in the wrong direction. The 14% who think we're on the right track is all -- an all-time low in the 25 years that CBS News has been asking the question." Conveniently, as Smith pointed out, CBS News began asking that question in 1983, during the Reagan Administration, and never asked the poll question during the Carter Administration. If they had, one might suspect that quite a few Americans thought the country was "headed in the wrong direction" at the time.

Smith then highlighted a restaurant owner in New Jersey, Marianne Cuneo-Powell, who "is cutting costs any way she can." Smith went to show how Powell’s situation reflected the poll numbers: "She is among the 78% of Americans who believe the economy is in bad condition... Like Marianne, two-thirds of Americans believe the U.S. economy is already in a recession. And they are not encouraged by their leaders in Washington...Only 21% of Americans approve of President Bush's handling of the economy." Of course a recession is defined as two consecutive quarters of negative economic growth, not based on what the latest poll numbers say.

BMI/NB's Menefee Hits Media for Recession Fear-mongering on 'Fox & Friends'

By Genevieve Ebel | April 2, 2008 - 11:47 ET

Business & Media Institute Managing Editor Amy Menefee appeared on "Fox & Friends" on April 2 to discuss the media's involvement in sparking recession fears.

Rescuing viewers from "solid recession talk," Menefee said that specifically network news reports already "have gone far beyond recession, they are already concerned about a depression."

"They're not tell-they're not allowing people on the networks to say ‘Hey, let's get this in perspective right now,' as you said we haven't had a quarter of negative growth yet."

Fox News: “Media ‘Talking Down’ the Economy to Get a Dem Elected?”

By Noel Sheppard | March 29, 2008 - 11:55 ET

Just how obvious is it that the media's economic and business coverage is so negatively skewed that it has to be part of a political agenda in an election year?

Obvious enough for the folks at Fox News to do an entire segment Saturday morning asking the extraordinary question: "Media ‘Talking Down' the Economy to Get a Dem Elected?"

Despite my surprise seeing "Cavuto on Business" begin with such a question framed at the bottom of the screen, I was almost enraptured by the comments from Neil's guests which not only included regular assertions that this is clearly about getting a Democrat in the White House, but also that media are "committing a crime against the general public" by creating a self-fulfilling prophecy that will end up costing people their jobs in the long run.

More importantly, "if we have a serious recession, a great deal will lie at the media's feet."

Cavuto marvelously began the segment:

AP Invents 50-Year-Olds Moving Home Story to Highlight 'Bad Economy'

By Warner Todd Huston | March 22, 2008 - 15:22 ET

A recent AP story about 50-year-olds moving back into their parents homes because the economy is so bad is one of the best examples of taking anecdotal evidence and stretching it into a universal truth that I have seen for a while. Filled with the sadly common "many say" and all based on the tale of one person who moved back home at 52, the AP magically discerned a national trend. This is the sort of shoddy reporting that is geared for one thing and one thing only: to promulgate a political agenda.

AP business writer Emily Fredrix gives us the sensationally titled, "Last Hope in a Weak Economy? Mom and Dad," in which she nicely sums up her unsupported claim in the third paragraph.

Taking shelter with parents isn't uncommon for young people in their 20s, especially when the job market is poor. But now the slumping economy and the credit crunch are forcing some children to do so later in life -- even in middle age.