A Tale Of Two Economies In The Headlines
Take a look at these headlines:
Recent headlines regarding the drop in the unemployment rate from 9% to 8.6% right?
Those are headlines from January 2004, when the jobless rate dropped to 5.7% and when President Bush was just starting a re-election campaign.
Here are headlines from Friday’s job numbers:
See the difference? I am not one to go one about “the liberal media.” That would indicate the media as a whole has a sought after liberal agenda (and some of them do but they’re easy to spot). The problem is, most journalists have an inherent bias that affects their reporting. They just don’t realize it. It just comes out naturally. The majority of those who work in journalism are Democrats/liberals.
The reality is, the headlines that described the jobless rate in 2004, fit perfectly with the jobs report that came out on Friday. Only 120,000 jobs were created in the month of November. Granted, the October jobs report was revised upwards by 70,000 but that is still not anywhere close to the numbers needed for nearly a half point drop in the jobless rate.
The real reason for the percentage drop was due to the number of people who gave up looking for work. Remember, the unemployment rate reflects the percentage of Americans who are actively seeking a job. When over 300,000 people give up looking for employment, that is reflected in the job numbers, hence the drop.
But the mainstream media has largely ignored this fact. Thus the headlines we see above.