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The Associated Press's disgraceful coverage of last week's Employment Situation Report from the Bureau of Labor Statistics (BLS) continues what has become the wire service's standard monthly error of treating reported seasonally adjusted job reductions as reflecting real people thrown out on the streets.
The AP's Jeannine Aversa reached into her Thesaurus as she began her report with:
The nation lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year's July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future.What happened on a not seasonally adjusted basis (i.e., in the real word) differed (go to this link at BLS to access tables referred to at this post):
As you can see, 241,000 jobs were added on a not seasonally adjusted basis. As was the case in the preceding four months, fewer jobs were added than in preceding years, which goes a long way towards explaining why the trend of reported seasonally adjusted job losses continued.To be clear: The job market's performance during the past six months or so has been sub-par. But that doesn't change the fact that for the fifth consecutive month, a period during which 2,712,000 jobs have been added, employers have NOT "gotten rid of" hundreds of thousands of employees, and hundreds of thousands of individuals have NOT been handed a "storm of pink slips."
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