Media Again Humiliated After Hyping Unreliable ADP Jobs Numbers
Now that people aren’t getting paid to sit at home we will be seeing these numbers jump all over the place.
Check it out:
More terrible economic news hit the struggling American people today when the Bureau of Labor Statistics announced that only 74,000 jobs were created in December, the fewest number in five years. The unemployment rate dropped from 7% to 6.7%, but that is due only to the disheartening fact that 525,000 of the unemployed stopped looking for work. As a result, the labor force participation rate dropped to its lowest point since 1978.
Still, President Obama enjoyed a week of celebratory news about job creation thanks to our objective, unbiased, not-at-all liberal media once again hyping the notoriously unreliable jobs report from ADP. The result of this, naturally, is to give Obama a couple of good news cycles, but to do so based on numbers the media know are frequently wrong and just as frequently overstate the number of jobs created.