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Wednesday, November 13, 2013
CNS Unearths More Jobless Numbers to Pull Out of Context

Now that has all that sweet cash from "a gift made in memory of Dr. Keith C. Wold" to fund its "business and economic reporting," it can cherry-pick the unemployment numbers even more.

In addition to the six stories CNS cranked out last week focusing on various isolated numbers from the new unemployment figures -- all of which failed to mention that 204,000 jobs were added in October -- CNS has found two more numbers to cherry-pick, written by Ali Meyer:

Americans’ Participation in Labor Force Hits 35-Year Low

African American Labor Force Participation Hits 31-Year Low

In addition to continuing to ignore any positive economic news from the economic numbers -- the very epitome of media bias -- Meyer fails to explain why the laborforce participation rate is dropping.

In addition to demographic factors like baby boomers retiring, there's also an anamoly in October's jobless numbers. As economist Paul Ashworth explained to Business Insider:

[T]he alternative household survey defines employment slightly differently and, as a result, those Federal workers were not counted as employed or in the labour force. That explains the 720,000 drop in the labour force and the 735,000 decline in the household survey measure of employment. As a result, the unemployment rate ticked up to 7.3%, from 7.2%, and the participation rate plummeted to 62.8%, from 63.2%. With those Federal employees back at work now, however, all of this will be reversed in November's report.

Presumably, Keith C. Wold didn't donate his money for economic coverage so shoddy and biased. Or maybe he did, in which case his memory is getting exactly what it paid for.

Posted by Terry K. at 10:36 PM EST

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