Friday, February 06, 2004

The latest employment report is fantastic: 112,000 new jobs created in January (that figure jumps to 496,000 new jobs if you add the number of outsourced contractors hired last month), and a drop in the unemployment rate to 5.6%, despite the 420,000 people who have rejoined the labor force looking for work.

It's curious, though, how Reuters was able to spin the jobs report as a huge negative. They conjured the dour headline, "U.S. Job Growth in January Disappoints," followed by an equally dour story on the meek economic recovery. Even more curious, is this story from the UK's Guardian newspaper, released just 20 minutes after the Reuters report. Titled "Surging US Economy Leads Global Recovery", the Guardian piece cites the OECD's December report, which details extensively an "upbeat assessment of the US economy".

Still trust Reuters for reliable, unbiased reporting? Hmm...

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