Unemployment

The time-temp clock down at the bus station here read 104 degrees this afternoon. We can't offer readers cooler weather, but perhaps they'll settle for some comic relief . . . On his MSNBC show this evening, Ed Schultz warned that unless the US pays out more in welfare, we risk becoming a "Third-World country."  Schultz said it twice, so apparently it wasn't a bizarre one-time brain camp. Ed's on…

Recovery summer just keeps getting better and better.  News outlets such as MSNBC.com announce "New jobless claims drop sharply."  Although the unadjusted data reflect an actual increase, the media are reporting a seasonally adjusted drop of 21,000 in jobless claims.  

This morning CNNMoney.com reports "Jobless claims slide in latest week."  The article starts:The number of Americans filing first-time claims for unemployment insurance fell last week, according to a government report released Thursday.There were 454,000 initial jobless claims filed in the week ended July 3, down 21,000 from an upwardly revised 475,000 in the previous week, the Labor Department…

If you were African-American living in the era of President Barack Obama, would you hate the Fourth of July because it reminded you of slavery and economic inequality?You would if your name was Julianne Malveaux and you were the syndicated columnist that also serves as the president of Bennett College, the historically black women's school in Greensboro, North Carolina.So disdainful of America's…

“The side that talks about the need to rein in the federal government” is “not very rational,” yet “is winning” the debate over whether to pass another “stimulus” bill, Al Hunt regretted on Sunday’s This Week on ABC. The former Washington Bureau Chief for the Wall Street Journal, who’s Washington Editor for Bloomberg where he hosts Bloomberg TV’s Political Capital show, fretted over how “right…

New York Times columnist Paul Krugman is angry the Senate hasn't once again extended unemployment benefits, and he's blaming "heartless, clueless and confused" Republicans."There was a time when everyone took it for granted that unemployment insurance, which normally terminates after 26 weeks, would be extended in times of persistent joblessness. It was, most people agreed, the decent thing to do…

Those looking for evidence that there is a move afoot in the establishment press to lower the bar for whatever economic accomplishments might be accomplished during the Obama administration will be interested in how the Associated Press's report on the government's June jobs report defined "normal" unemployment. Perhaps it's valid for reporters Jeannine Aversa and Christopher Rugaber to refer to…

CBS's Chip Reid on Thursday railed against the Senate for failing to extend unemployment benefits. The Evening News reporter opined, "So who's fault is that? On the surface, it appears Senate Republicans are to blame. Led by Mitch McConnell, they killed the bill with a filibuster." At no point did Reid or fill-in anchor Scott Pelley discuss whether unemployment benefits should be extended yet…

The June jobs report was released July 2 showing a tiny decline in the unemployment rate to 9.5 percent, but a depressing 125,000 overall non-farm payroll jobs lost. CNN's "American Morning" reacted with an appropriately downbeat report, but the onscreen chyron led with the better news -- showing the lower unemployment rate rather than the job losses. Christine Romans also pointed out that…

Add New York Times columnist Bob Herbert to the growing list of liberal media members realizing that Barack Obama's campaign slogan "Hope and Change" was nothing but a great sales pitch."Mr. Obama and the Democrats have wasted the once-in-a-lifetime opportunity handed to them in the 2008 election," wrote Herbert Tuesday."They did not focus on jobs, jobs, jobs as their primary mission." No, they…

George Will on Sunday gave a much-needed economics lesson to New York Times Washington correspondent David Sanger that greatly demonstrated the difference between how conservatives and liberals view unemployment benefits.As the Roundtable segment of ABC's "This Week" shifted to the G20 summit in Toronto, Sanger said, "Just the day before [Barack Obama] left, Congress could not come to an…

On Thursday, a new unemployment bill died in Congress as Senator Ben Nelson (D-Neb.) joined Republicans on the grounds that government spending can't go on forever. Instead of reporting both sides, the media couldn't seem to hide their anger. The bill was called a "jobless aid" package that "governors were counting on" to help "the poor" across the nation. Almost all news reports began from the…

It's union thuggery, but at a higher echelon.Imagine you're representing the AFL-CIO, going on Fox News and trying to make a case that the $787-billion stimulus last year wasn't nearly enough and that more is needed, despite the prevailing argument being that Keynesian economics doesn't work based on this example.Well, Ron Blackwell - the chief economist for the AFL-CIO faced that on the June 25…

Fresh off his Tea Party cover story in the June 24 Weekly Standard, CNBC's Rick Santelli foresees what could be classified as an economic black hole for the United States of America.On the network's June 24 broadcast of "Strategy Session," the CME Group reporter explained how the country could be headed down the same path and face the economic calamity the Japanese faced in what is known as the…