Media Spins Unemployment Increase as Good News
After the American economy delivered more bad news today in the form of an increase in the unemployment rate and job growth that barely kept up with the increase in population, it took exactly 4.3476 seconds for the Washington Post’s Ezra Klein and some flak for NBC News to jump before the “Morning Joe” cameras to assure Americans this was good news.
Apparently, the increase in the unemployment rate means the economy is so good, more people are joining the labor force … except 169,000 people dropped out of the labor force and the economy isn’t good; it collapsed over three points in the last quarter and shrunk 0.1.
The AP called today’s news “upbeat, ” you know, even though consumer confidence hit a two-year low. But still, people are optimistic and looking for work … in an economy where chronic unemployment hasn’t been this bad since World War II.