CNN MONEY [1] says:
“The economy created 248,000 jobs outside the farm sector in May, the Labor Department reported, compared with a revised gain of 346,000 for April. Economists surveyed by Briefing.com forecast the May report would show a 225,000-job gain. ”
Now, if Boortz is right, (see previous story) we should see the press trying to downplay this within 24 hours.
Or, perhaps Not That Long at all [2]. Bloomberg is saying that the Fed is looking to riase interest rates by a quarter point.
“A 25 basis-point increase this month is pretty much a certainty at this point,” said Cary Leahey, a senior economist at Deutsche Bank Securities in New York, before the report.
A rise in interest rates has been considered by many to be a wet blanket waiting to happen. so, I guess I could see the argument that the press is already trying to put out the fire. we’ll see how this plays out.
Update:
Looks like I was right, already. The press is already trying to downplay the story before the ink is dry.
Hindrocket [3] points up an AP feed today:
The Associated Press notes that the jobs report “was good news for President Bush.” But the AP wouldn’t want anyone to draw the wrong conclusions, so it can’t resist adding:
Still, the economy is far from the booming 1990s. Last month, 8.2 million people remained unemployed.
Thing is, as presented, the AP is lying. Hindrocket says, correctly:
It’s always fun when liberals do statistics. Current unemployment rate: 5.6%. Average unemployment rate during the “booming 1990s”: 5.76%.