CNN MONEY 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. 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 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%.
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