Unemployment Numbers Fail to Meet State-Run Media Expectations
The big news. It’s just amazing the narrative here. It’s Friday, so what’s the big news? The big news is the unemployment number. Whatever the number is and whatever the employment rate is, that’s the big news. Obama just had a press conference — well, he didn’t have a press conference, but he had an appearance at Thompson Creek Manufacturing company in Landover, Maryland, to talk about the monthly employment report that came out today. And let’s go through the State-Controlled Media and the way they report this, even though it’s predictable. First up from the Associated Press — and it sounds to me if you read the AP today, and I don’t know how much media attention you’ve been paying today, but depending on where you go the media is saying: “Finally, all right, 9.8 to 9.4, hundred thousand new jobs, all right, all right, coming back.” Then you go to the Fed chairman, it ain’t that good, and other places, it’s not that good. Other places they’re throwing a party. So what is the truth about this? Well, let’s examine it all before I tell you what’s really happening here.
From Associated Press: “The nation’s unemployment rate dropped to 9.4% last month, its lowest levels in 19 months. That was because more people found jobs.” Normally AP would just stop there, that would be the end of the story and they’d move on to something else. But they didn’t stop there. “The nation’s unemployment rate dropped to 9.4% last month, its lowest level in 19 months. That was because more people found jobs, but also because some people gave up on their job searches.” This might be a first, if it’s not a first, it’s a second or third. AP doesn’t talk about that aspect of the unemployment situation. They don’t talk about the number of people who have quit looking and how that affects all the other numbers. This is a stunning admission from AP, and it’s especially shocking to see this in their lead paragraph. Normally they would either not report this, or bury this long after that point in the story where most people have stopped reading. “Also because some people gave up on their job searches. The Labor Department says employers added 103,000 jobs in December. That’s an improvement, but far below most analysts’ expectations.” (gasping) Unprecedented again.