Friday, September 01, 2006

MSNBC seems to be sending a mixed message on the economy with this graphic. Sure, the unemployment rate is going down, but that can't be attributed to job creation, the numbers simply aren't there. 128,000 jobs were created this month, 22,000 fewer than needed just to keep up with population growth. Most signs show we are heading into an economic slowdown, possibly even a recession, yet MSNBC writes this:

The latest snapshot, released by the Labor Department Friday, was a bit brighter than expected and should ease any fears that the expansion that began in late 2001 is in danger of fizzling out.

Why should 3,000 jobs more than predicted ease any fears? That is well within the margin of error (Hey the forecasters got one right!) and 125,000 jobs is a lousy report anyway. Baffling. Maybe they should read the bottom part of their graphic.

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