With Unemployment Rate Lower Than the 1990's… Media Spins Negative
Today’s New York Times’ headline:
You’d think the employment situation was horrible from this and otherheadlines this morning.
However… The current unemployment rate stands at 4.5%– over 1 full point lower than the 5.7% average during the 1990’s.
How many people do you suppose have heard that fact?
The facts didn’t stop the Lefties from misrepresenting the numbers. Atrios peddles this lie…
Consensus forecast is +100K, below the 150K or so needed to keep up with the growth of the labor force.
But, that is not accurate:
** The Labor force grows at varying rates each month, but if you go back to Jan 2001, it has grown at a rate of 115,000/month. Much less than 150,000. (BLS)
** There was not “growth of the labor force” last month. The Labor Force declined last month by 392,000 persons.
But, the spin goes on.
Funny… The stocks moved higher on this employment data today reflecting a positive reaction to April employment data.
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