Unemployment

These days, one of the biggest meta-debates in politics concerns apportioning blame for the staying power of the Donald Trump circus. How much of Trump’s popularity is attributable to, say, the mainstream media? To conservative talk radio? In a Sunday post, The Washington Monthly’s Martin Longman pointed the finger at Republicans and absolved President Obama. Apropos of Trump’s economically…

From reading most establishment press news, especially their economy-related reports, you'd think that those who are complaining about the current U.S. economy are outliers — especially the millions of Americans who are angry about it. Though they sometimes acknowledge that forward progress  since the recession hasn't been robust, the media's meme-makers have mostly told us that "overall job…

Since the economy finally began consistently regaining jobs in early 2010, the establishment press has had a consistent, predictable and annoying reporting (and non-reporting) pattern. It starts with the Friday morning jobs report from the Bureau of Labor Statistics at or near the beginning of the month. Virtually without fail, it has spit out positive and sometimes even very positive seasonally…

The press is mostly thrilled over yesterday's Employment Situation Summary from the government, which reported that the unemployment rate stayed at 4.9 percent and that the economy added 242,000 seasonally adjusted payroll jobs. President Barack Obama took the opportunity to take what CNBC's Jeff Cox described as "a victory lap ... in Friday remarks to the media." Well, why not? Obama was secure…

Snooty New York Times columnist/Democratic hack Paul Krugman is very unhappy with Bernie Sanders and his Hillary-bashing supporters. Krugman had previously antagonized the left-wing hive of “Bernie bros” – supposedly sexist critics of Hillary Clinton supporters, and on Friday Krugman lit into Sanders’ economic plan, suggesting an economic plan strongly endorsed by his campaign “outdoes the GOP”…

West Virginia became the nation's 26th state with a "right-to-work" law a bit over a week ago. At the same time, it also repealed "prevailing wage" requirements for public construction projects. The idea that the formerly Democrat-dominated Mountain State would pass either item was unthinkable as little as a decade ago. That was before the Obama administration began its war on coal-powereed…

The Associated Press's choice of a headline to accompany business writer Stan Choe's Saturday morning report on the state of the economy — "MAIN STREET HOLDS UP AS WALL STREET STRUGGLES, FOR A CHANGE" — has a couple of interesting implications. Is AP celebrating the fact that Wall Street is struggling? Or does the idea that "Main Street" is holding up "for a change" mean that it hasn't been…

On Friday, in its January Employment Situation Summary, the government's Bureau of Labor Statistics served up a stack of lemons disguised as lemonade. President Barack Obama declared in a tweet that "We've recovered from the worst economic crisis since the 1930s," and the press dutifully fell in line. The BLS reported that the economy added seasonally adjusted 151,000 payroll jobs and that the…

On Wednesday, Christopher Rugaber at the Associated Press was tasked with covering ADP's morning report on January private-sector payrolls. At 8:15 a.m., the payroll and benefits giant estimated that the economy added 205,000 seasonally adjusted private-sector jobs last month. Rugaber also attended the 8:30 a.m. conference call which followed the report's release. It's clear that he was on it…

The Associated Press may be down to one person in the whole wide world who will tell its economics reporters what they want to hear when the federal government releases economic data. That's what you almost have to conclude after reading the wire service's reports on two of Thursday's major releases, namely last week's initial unemployment claims and December's durable goods orders and shipments…

On Wednesday, Amber Phillips at the Washington Post's The Fix blog impressively took President Obama to task for his over-the-top bragging about the nation's mediocre (and likely getting worse) economy. She noted that "the biggest knock on the Obama economy ... is that the recovery has been very good for the wealthy and certain sectors and not so much for the middle class and everyone else." Hear…

During the middle years of last decade, the business press, including the Associated Press, worked the word "recession" into its reports on the economy quite regularly. Yesterday, despite a current economy facing far worse fundamentals than were seen during 2007, the AP's Paul Wiseman and Bernard Condon gave us a nearly 882-word treatise on "WHY GLOBAL WOES AND SINKING STOCKS DON'T MEAN US…

The Brookings Institution, the leftist think tank, is wailing and gnashing its teeth over its finding that in many metro areas, "income inequality," their favorite bogeyman, is being "driven by declining incomes" among their poorest residents. The problem isn't so much that the rich are getting richer as it is that the poor are getting poorer. As a result, "Inequality is higher today in most…

On Saturday, after one of the worst year-opening weeks for the stock market in many years, Myles Udland at BusinessInsider.com complained that "The stock market is having a nightmare start to 2016 and it's all the Fed's fault." This sentiment is apparently widely held in the media. At NationalInterest.org on Tuesday, Christopher Whalen wrote that "the Fed created the current unstable market…