Media See Recession in Jobs Report Without Historical Reference
There's no denying the economy is slowing, and may have either entered a recession, or is on the brink of one. Maybe.However, the media's hysterical response to Friday's February jobs report lacked any historical reference to how the labor market behaved in previous recessions.Instead, press outlet after press outlet decided that the loss of 63,000 jobs in February was a clear signal the…
AP Badly Misquotes Labor Dept. on 'Discouraged Workers
For years, NewsBusters and the Business & Media Institute have regularly complained about the abysmal financial coverage offered by the mainstream press while accusing media of consistently painting a negative -- and oftentimes fallacious! -- picture of the economy.On Friday, a perfect example of such was illustrated by the Associated Press whose article about the February unemployment data…
AP Highlights Fewer Jobs, Ignores Steep Drop in Unemployed
Here's is the core information the Associated Press's Jeannine Aversa had to work with today in the Employment Situation Report released by the government's Bureau of Labor Statistics (BLS): The "Dec.-Feb. change" column was added by me, but is easily calculated from the data in the BLS report. What Aversa did with this info, and my comments, are after the jump. (see also Noel Sheppard's post…
CBS’s Kroft Decries ‘Malicious Campaign’ Against Obama
On Sunday’s CBS "60 Minutes," anchor Steve Kroft interviewed Hillary Clinton and Barack Obama, along with a small group of Ohio Democratic voters who, as Kroft explained: "told us that both race and gender would be hidden factors in southern Ohio, that many blue collar workers here won't vote for a woman, and others would never vote for a black." Kroft went on to focus on Obama: "And Senator…
Bob, People Have the Big Ideas, Not Government
Admission: over the course of my NewsBusting, I've actually developed a certain admiration for Bob Herbert. Not that I agree with virtually anything the NY Times columnist has to say, but that I appreciate his directness and the absence in his work of the superfluous sarcasm that marks that of a number of his colleagues.That said, I offer up Herbert's lament of this morning, "Where Are the Big…
Bartiromo Warns Bad Economy Talk 'Begets More Weakness
You reap what you sow. Nothing could be truer when it comes to the American economy. According to CNBC "Closing Bell" host Maria Bartiromo, if the media continue to push doom-and-gloom economy stories, they will make the economy worse. "[T]he truth is, ["Today" co-anchor] Meredith [Vieira], it doesn't matter if we're in a recession," Bartiromo said on NBC's February 6 "Today." "We can talk…
CNBC ‘Street Sweetie’ Bucks Media Trend; Says Job Number Isn’t S
"January Jobs Number: Beware! It Might Not Be True," the caption read at the bottom of the screen on CNBC's February 1 "Street Signs." The number of payroll jobs declined for the first time in more than four years on February 1, but "Street Signs" host Erin Burnett explained, this jobs report might not be as bad as it has been reported elsewhere - like today's story posted on CBSNews.com - "U…
CNN Gives Unemployed Woman 'a Pass' for Buying a Flat-Screen Televisio
It’s apparently okay to buy unnecessary and expensive electronics at a discount – even if you’ve lost your job and money is “tight.” After all, the Super Bowl is Sunday. CNN’s January 30 “American Morning” mentioned retailers were cutting prices to get customers to purchase more, but no one during the broadcast had a problem with one unemployed woman buying one of those fancy televisions. “…
Networks Report Economic Stimulus Proposal as if it is Free Money
Nothing like going on the air and reporting the government is going to give you a check for x dollars - depending on your income - to please your viewers. But reporting about it as if there were no strings attached isn't straightforward. However, the glowing reception the $150-billion taxpayer-funded stimulus plan got from each of the network newscasts gave that impression last night. "Cash…
Jon Stewart Mocks Financial Networks: 'Hot Ladies Talk Money with Bald
It's really frightening to imagine that people who get the bulk of their news from Comedy Central's "The Daily Show with Jon Stewart" will be making what they probably think are educated decisions at the ballot box come Election Day. Stewart, who is now a self-proclaimed economist, said on his January 23 show, "Our economy is tanking." And now you can add financial media critic to Stewart's…
'Evening News' Plays up Recessionary-Caused Unemployment
Worried about finding employment after losing your job because of this gosh-awful recession we're having? Oh, you haven't lost your job yet? Yeah, we aren't actually having a recession yet, but that's just details. But the show must go on, and so goes the January 23 "CBS Evening News." "It's a bumpy ride for the American worker as well. As the economy slows the unemployment rate is rising…
GMA: Be Arrogant and Kiss Up to Protect Your Job from Recession
The economy is so bad that you'll probably lose your job. Just ask "Good Morning America" host Robin Roberts. She reported on ABC January 17 that "countless Americans" are worried their jobs might be at risk.As proof, Roberts offered a montage of four man-on-the-street-style interviews, in which four expert economists random people expressed concerns about the job market, gas prices and the…
