Betsy Stark

ABC: 'Drop in the Unemployment Rate is Bad News'

By Noel Sheppard | March 8, 2008 - 20:56 ET

ABC's "World News Tonight" had a hard time on Friday without normal anchor Charles Gibson, as in its segment about the employment numbers released by the Labor Department, guest host George Stephanopoulos said the figures were from January 2008.

This was stated as a graphic came on the screen reading "JOBS LOST, January 2008, 63,000." Of course, Labor's report was for the month of February.

Sadly, that wasn't the only mistake "World News" made concerning this crucial piece of economic data, for just as the Associated Press had done earlier in the day, ABC's Business Correspondent Betsy Stark claimed (video available here, h/t NBer Gary Hall):

Month Ago CBS Saw Recession, But Now Skip Big Job Gains

By Brent Baker | October 5, 2007 - 22:26 ET

When the Labor Department reported a net loss of 4,000 jobs for August, the September 7 ABC, CBS and NBC evening newscasts highlighted the bad news as evidence of an impending recession, but on Friday, when the Bureau of Labor Statistics revised the August number to a gain of 89,000 jobs and reported 110,000 new jobs for September (AP story), only ABC bothered to mention the revision while CBS didn't utter a syllable about either jobs gain. The CBS Evening News anchored by Harry Smith, however, found time to note the Postal Service's decision to honor two CBS journalists -- Eric Sevareid and George Polk -- with stamps.

A month ago, Katie Couric plugged an upcoming look at “new worries about the U.S. economy following a disappointing jobs report.” Harry Smith then cited “new concern about the economy tonight following a report which showed the number of jobs in the U.S. dropped by 4,000 in August, the first monthly decline in four years.” Anthony Mason asserted “it had a lot of economists uttering the 'r' word today, recession,” and fretted: “These job numbers are the most worrisome sign yet, Harry, that the housing slump and the mortgage crisis could take the entire economy down with them.” ABC anchor Charles Gibson teased: “The economy loses jobs for the first time in years as the housing crisis raises the risk of recession.” Betsy Stark declared: “The risks of a serious slowdown, even a recession, are rising. Today's jobs report was shockingly bleak.”

Nets Barely Notice Surge in GDP Growth as They Focus on Dow Plunge

By Brent Baker | July 27, 2007 - 21:50 ET

The ABC, CBS and NBC evening newscasts on Friday all devoted full stories to the fall in the stock market, touted as “the worst two-day point drop for the Dow in five years,” but barely had time for a sentence about the 3.4 percent second quarter jump in the GDP, the biggest in over a year. In fact, neither ABC nor NBC cited the specific 3.4 percent rise in the Gross Domestic Product, the measure which the AP on Friday described as the “best barometer of the country's economic fitness.” Not one of the three evening newscasts mentioned how the Dow is still well above the 13,000 level it broke through in April and none noted fresh good news on inflation.

ABC was the most negative. “Stock slide,” World News anchor Charles Gibson teased, “Wall Street finishes the worst week of the year down nearly 600 points.” Gibson soon highlighted that news, as he only alluded to the good GDP number, when he reported “the worst week for the Dow in five years. Even positive news on economic growth wasn't enough to keep investors from selling. Among other things, they had to contend with a battered housing market.” Reporter Betsy Stark agreed as she too only made a passing reference to the GDP: “It sure is, Charlie. In fact, buried inside that positive report on Gross Domestic Product today was more evidence of what economists now describe as an outright recession in the housing sector.” ABC didn't even put the GDP number on screen as Stark devoted her entire story to the impact of the declining housing market before concluding that “it increases the odds of a downturn in the overall economy since housing now accounts for roughly one in ten American jobs.”

Media Support Sin Taxes, Even 20,000 Percent Increases

By Julia A. Seymour | July 25, 2007 - 18:38 ET

Death and taxes may be the only certainties in life, but journalists’ support for higher taxes is almost as predictable.

Actions that liberals dislike, such as smoking, eating the "wrong" food, and spewing carbon earn media support for tax increases.

Right now, the media are promoting a “bipartisan” bill in Congress that would expand the State Children’s Health Insurance Program (SCHIP) by raising tobacco taxes sky-high.

“Senate Panel Adds Billions For Health,” announced a headline from the July 20 New York Times. The headline sent a positive message that people’s health would be improved, rather than the honest message that the bill calls for a 156-percent tax increase on cigarettes, and a more than 20,000-percent increase on cigars (up to $10 per cigar).

$10 a cigar? That deserved a headline or two.