Bush Years vs. Obama Years: How Media Reported the Economy

I have here a review of AP stories on unemployment, and it is hilarious. All three are from the AP by Christopher Rugaber. From this morning at 8:30, AP story headline: “Jobs Report Could Show Signs of Modest Growth.” This is before the news was released, now. This story ran before the job number of zero was announced. “Businesses likely shrugged off recession fears and kept hiring in August, although not nearly enough to lower the unemployment rate. Analysts forecast that the economy added 93,000 jobs last month, down from 117,000 in July. Unemployment rates expected to stay at 9.1%, according to a survey by Factset.” Okay. That’s number one. At 8:30, businesses likely shrugged off recession fears, kept hiring in August, added 93,000 jobs in August.

Next story is about 11:15 this morning, same reporter, Christopher Rugaber. “August began with rising fears that another recession was about to hit. That was then. A month later, the economy and the stock market appear more resilient, suggesting that consumers, businesses and investors remain confident enough to keep spending. A more authoritative test will come Friday, when the government issues the August jobs report. Employers are expected to have added 93,000 jobs, which would not be enough to significantly lower the jobless rate of 9.1 percent. But it would solidify evidence that the economy, though still weak, is growing steadily. Many analysts now expect it to strengthen in the months ahead.”



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