Monday, March 10, 2008

AP Highlights Fewer Jobs, Ignores Steep Drop in Unemployed

Here's is the core information the Associated Press's Jeannine Aversa had to work with today in the Employment Situation Report released by the government's Bureau of Labor Statistics (BLS):
[snip]
Here's how her report began (scare words in bold; the headline is also from AP):

Employers Slash Jobs by Most in 5 Years

Employers slashed jobs by 63,000 in February, the most in five years, the starkest sign yet the country is heading dangerously toward recession or is in one already...
She totally ignored the fact that the number of unemployed (i.e., the people we should be concerned about) dropped by almost 200,000 in February, and is now 284,000 (3.6%) lower than it was in December. That doesn't exactly square with an economy Aversa says is "heading dangerously toward recession or is in one already."

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