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Jobs Report

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  • After years of nitpicking Obama, Fox sees nothing to worry about in September jobs report

    Blog ››› ››› CRAIG HARRINGTON


    Fox News / Screengrab

    Fox News seemed unfazed by the Bureau of Labor Statistics’ (BLS) estimate that the economy lost 33,000 jobs last month -- a figure far short of most economist’s expectations. The network’s rosy interpretation of an aberrant monthly jobs report stands in stark contrast to years of nitpicking and misrepresentation during the Obama administration, and it reveals once again that Fox is working to prop up President Donald Trump.

    According to the BLS’ monthly employment report for September 2017, the economy lost 33,000 jobs last month while the unemployment rate fell to 4.2 percent. Job creation for the months of July and August was revised down by a combined 38,000, meaning that the average pace of job creation over the past three months fell to just 91,000. According to a BLS statement, part of the job loss in September was the result of hurricanes Harvey and Irma, which may have disrupted data collection and likely prevented some businesses from hiring. The storms devastated parts of Texas and Florida and are expected to exert downward pressure, at least temporarily, on the overall economy.

    The impact of the hurricanes was no surprise, but economists surveyed by The Wall Street Journal still predicted roughly 80,000 new jobs to be created last month. As Business Insider reported, if the economy did indeed lose jobs in September (final revisions are due in December), it would mark the first negative month of job creation since 2010. As New York Times reporter Ben Casselman noted, the economy had created jobs for 83 consecutive months:

    During the Obama administration, the team at Fox News would have pounced on a jobs report with such a stark negative jobs number. Indeed, when the jobs figure from December 2016 merely came in under expectations, Fox claimed it was proof that the Obama economy was sputtering and “sick.” Fox completely reversed the tone of its economic coverage after Trump’s inauguration, and that reversal was on full display this morning.

    Fox & Friends covered the report for mere seconds before moving on to other news, but co-host Abby Huntsman worked in mentions of the hurricanes and lower unemployment rate while glossing over job losses:

    On Fox Business’ Mornings with Maria Bartiromo, the host and guests spent several minutes hyping record stock market valuations and stressing that the September jobs number should be ignored due to damage from the hurricanes. After correspondent Adam Shapiro unveiled the report, guest Joanie Courtney pivoted away from the job losses to highlight “positive news in this report,” including wage growth and a slight uptick in labor force participation. The rest of the panel then spent the next several minutes explaining why stock investors should not be worried by a single monthly hiccup:

    On Fox Business’ Varney & Co., host Stuart Varney opened his show by bragging that what he calls “the Trump rally” on the stock market has created trillions of dollars of wealth since Election Day. Varney dismissed the job losses in September before claiming that the backbone of the economy was “humming along.” In a later segment, Varney returned to bragging about the supposed “Trump rally” -- he has promoted this fiction for months, crediting Trump for positive economic trends inherited from the prior administration -- with author and investment analyst Hunter Lewis. To Varney’s surprise, Lewis immediately threw cold water on boasts about the economy, warning that he believes the stock market is “in a bubble” and may actually be headed for “a nasty correction”:

  • Some journalists can see through Trump's economic ruse. Time for everyone else to catch up.

    Trump wants credit for economic progress, but the continued recovery has little to do with him

    ››› ››› CRAIG HARRINGTON & ALEX MORASH

    President Donald Trump has been promoting record high valuations on the Dow Jones industrial average as proof of his supposed economic accomplishments and has attacked news outlets for not covering the stock market gains and steady job creation during the first six months of his presidency. In response to both his boasts and his frequent criticism, journalists have been quick to point out that Trump deserves little credit for positive economic trends that predate his administration given his lack of substantive policy accomplishments while in office.

  • Fox hypes misleading job creation numbers to credit Trump on the economy

    Blog ››› ››› ALEX MORASH

    President Donald Trump took to Twitter on June 11 to echo misleading claims from Fox News that job growth in his first four full months in office was proof of his economic success. Both Fox and the president failed to notice, however, that it was the weakest February through May stretch of job growth since the end of the Great Recession.

    On the June 11 edition of Fox News’ Fox & Friends Sunday, co-host Clayton Morris and economist Peter Morici claimed that Trump’s presidency had been a boon for the economy, hyped that 594,000 jobs had been created in Trump’s first four full months in office, and slammed media outlets for reporting that Trump’s economic agenda has stalled. Roughly an hour later, the president started tweeting what seemed like talking points pulled from the Fox segment. He decried mainstream reporters, whom he derisively labeled “fake news,” in a tweet claiming media outlets refuse to report “great economic news” since he was elected. Trump continued by boasting that the economy had added “600,000+” jobs:

    According to the Bureau of Labor Statistics (BLS), the economy in fact created 594,000 jobs from February through May of this year. Projections for April and May are preliminary and subject to change, but by comparison to previously established trends for the same timeframe, Trump has little to boast about. More jobs were created during the same four-month window in each of the past seven years under President Barack Obama.

    On June 12 edition of CNN’s Early Start host Christine Romans picked apart various aspects of Trump’s claims on the economy. Romans discussed that while the stock market has gone up since Trump was elected, it had been rising for eight years making the latest gains just “icing on what has been a very big, juicy cake.” Romans also noted that Trump’s job growth claims neglect to mention how job creation was slower than the last three years:

    These simple facts did not stop the pro-Trump sycophants at Fox News from continuing to push their favorable talking points. On the June 12 edition of Fox News’ Fox & Friends, guest Stuart Varney laid out the same argument that Trump had tweeted and added that “it’s a disgrace” that news outlets had been focused on Trump’s scandals instead of giving the president credit for a strong economy. Later on Fox News’ America’s Newsroom, guest Melissa Francis again pushed the 594,000 jobs created between February through May as proof of a strong economy under Trump.

    Since Trump was elected, Fox has pivoted from mischaracterizing reports on the economy to blast Obama to mischaracterizing reports on the economy to hype or defend the Trump administration. Fox personalities frequently heap praise on economic indicators weaker than those they had once excoriated. The network has also reversed completely on how it reports jobs data, giving Trump credit for jobs he didn’t even create, and reporting glowingly on job creation under Trump that had become routine under Obama.

  • Fox uses “lousy” May jobs report to push Trump's job-killing economic agenda

    Blog ››› ››› ALEX MORASH

    Fox News used the Bureau of Labor Statistics’ (BLS) underwhelming jobs report for the month of May as proof that Congress needs to pass President Donald Trump’s trickle-down economic agenda that, in reality, would strip working- and middle-class Americans of basic public services and hand top income earners a gigantic tax cut.

    On June 2, BLS released its jobs report for May 2017, which estimated the United States added 138,000 new jobs last month while the unemployment rate fell slightly to 4.3 percent. The jobs number fell below economists’ expectations and The Washington Post declared that the report showed that the “job market stumble[d]” last month. While the number of new jobs reported was weaker than expected, The New York Times noted the overall health of the economy was still strong enough for the Federal Reserve to possibly raise interest rates and pointed out that wage growth was up 2.5 percent from this time last year.

    In response to this news, Fox pushed the absurd claim that the report is proof that big business needs Congress to pass Trump’s economic agenda of tax cuts and gutting consumer protections to stoke further economic growth and job creation. During the June 2 edition of Fox News’ Fox & Friends, guest Steve Hilton, host of The Next Revolution, used the jobs report to claim the U.S. was in a “jobs crisis” and needed Trump’s economic agenda to be enacted. On Fox Business’ Varney & Co., host Stuart Varney described the jobs number as “lousy” and “disappointing” while correspondent Ashley Webster claimed the jobs number shows the American economy is “in a holding patterning” that is “waiting on Washington” to act. Fellow Fox Business host Maria Bartiromo added that “what this jobs number tells us is that business is still cautious” and companies are “sitting on cash” because they are “strangled by all of the regulatory environment” and waiting for Congress to pass Trump’s agenda:

    In reality, Trump’s economic agenda has been described as a “repugnant grab bag” of tax cuts for top-income earners that guts funds for Medicaid, children’s health insurance, food assistance, medical research, disease prevention funding, disability insurance, and even college student financial aid while watering down consumer protections to give Wall Street investors a $100 billion windfall. Trump’s budget proposal to slash funding for vital health assistance programs has been described as “ruthless” and would exact a huge human cost from those who lose access to care.

    Far from being a jobs savior, Trump’s economic agenda has faced heavy criticism from economists for relying on “voodoo” economic theories that falsely claim tax cuts will lead to economic growth. Research from the nonpartisan Congressional Research Service and Brookings Institution have found no link between tax cuts and economic growth. Economist Jason Furman has also slammed Trump’s tax cut agenda for proposing to add trillions of dollars to the federal debt in ways that could hamper economic growth. Trump’s tax proposals have been blasted by economists and experts across the political spectrum, who have argued that his restrictive approach to international trade and immigration, if enacted, may actually dampen economic activity. Even Trump’s proposals to reduce supposedly burdensome regulations in the financial industry fly in the face of facts -- Trump has proposed dismantling the Dodd-Frank Act, but the Government Accountability Office concluded in 2016 that Dodd-Frank protections have “contributed to the overall growth and stability in the U.S. economy.”

    Fox figures have attempted to use the monthly jobs report to advance the president’s agenda since he first took office. Fox used the reports to claim unearned victories for the president, and even once used a jobs report described as “weak” to declare it was “the most successful day” of Trump’s presidency. Last month, a Fox Business panel attempted to spin the April jobs report as a reason to pursue Trump’s tax and regulatory policies with no evidence to back up its claims. Next month will likely produce more of the same.

  • White House Spokesperson Echoes CNN’s Misfire On Manufacturing Jobs Growth

    Sarah Huckabee-Sanders Credits Positive April Jobs Report To Fantasy Manufacturing And Mining Employment

    Blog ››› ››› ALEX MORASH

    White House spokesperson Sarah Huckabee-Sanders doubled down on false claims that Obamacare is a job killer while making the ridiculous assertion heard earlier on CNN that the solid job growth in April was driven by job creation in manufacturing. In reality, the vast majority of jobs came from health care, business services, and hospitality while only a fraction came from manufacturing.

    During a May 5 White House press briefing, Politico’s Matthew Nussbaum asked Huckabee-Sanders if President Donald Trump still believed Obamacare was “a job killer” after the April 2017 jobs report showed a net gain of 211,000 jobs as part of a record breaking 79 consecutive months of job growth. Huckabee-Sanders initially deflected before making the head-turning statement that “the most growth in this jobs report were in manufacturing, coal miners, other places.” An odd statement considering a breakdown of the jobs report by employment industry showed the manufacturing sector created only 6,000 jobs last month while coal mining added approximately 200 total jobs. Even after accounting for all mining and logging jobs (10,000 jobs), as well as the “Other” category (7,000 jobs), the huge majority of new jobs created in April were created elsewhere:

    The White House’s claim that job growth was concentrated in coal mining and manufacturing is nonsensical. Coal mining’s mere 200 new jobs does not even account for one-tenth of one percent of all the jobs created in April -- by comparison, the performing arts created 32 times as many jobs (6,400) as coal mining. The greatest job growth in the April report came from the “Leisure and hospitality” industry, which added 55,000 jobs. Education and health care services added 41,000 jobs during the same timeframe, and according to data compiled by the Washington Center for Equitable Growth, since 2007 -- the start of the Great Recession -- these two sectors have seen the largest job gains of any industry:

    This clear break with reality follows an earlier misstep by CNN, which also hyped manufacturing growth in the April jobs report despite there being little reason to boast. If CNN or the White House are truly interested in jobs, perhaps they should look at what gutting Obamacare would do to employment in the health care and social services industry, an industry that has seen some of the largest post-recession gains in the U.S. economy and employs more workers (19.4 million) than the entire manufacturing sector (12.4 million).

  • CNN's Christine Romans Credits Trump For Minuscule Uptick In Manufacturing Employment

    The Usually Reliable Analyst Is Inventing Good News For The Trump Administration

    Blog ››› ››› CRAIG HARRINGTON

    CNN hyped meager growth in manufacturing employment shown in the latest monthly jobs report from the Bureau of Labor Statistics (BLS) as an example of robust Trump-driven job creation -- a claim so absurd it would make Fox News blush.

    On May 5, the BLS released its employment update for April 2017, showing that the economy created 211,000 new jobs while the unemployment rate dropped to 4.4 percent, its lowest point in 10 years. Despite further negative revisions to job creation estimates for February and March, the report was generally solid and continued a 79-month streak of steady job creation and labor market improvement dating back to October 2010. In light of a meager March report, which Bloomberg described as “a weaker-than-expected reading,” the job market remains on a relatively stable and healthy upward trend since job growth began during the Obama administration. FiveThirtyEight senior economics writer Ben Casselman helpfully illustrated these long-running trends in a series of tweets. In an interview with The New York Times, economist Jason Furman actually expressed his surprise “that this late into an expansion the economy is still adding jobs well above the steady-state pace.”

    There is plenty to like in this monthly jobs report, as has been the case for years, but for some reason CNN chief business correspondent Christine Romans decided to overly inflate the significance of one specific portion that would serve as the most useful talking point for President Donald Trump. After discussing the top-line jobs and unemployment numbers, Romans absurdly claimed that the Trump administration should be credited for “kind of reviving some of the interest in the manufacturing sector,” which gained 6,000 jobs in April and 41,000 net jobs since January. From the May 5 edition of CNN’s New Day:

    Romans’ comments were odd considering that she admitted health care created far more jobs in April (37,000) than manufacturing, and health care could be in peril in light of Trump’s attempt to take insurance away from millions of Americans. But even more concerning is that while it is true that the manufacturing sector, which employs approximately 12.4 million Americans, has seen 41,000 new jobs added since January, that increase -- a mere 0.3 percent -- is little more than a rounding error. In fact, the April 2017 report states that month-to-month job creation in the sector “showed little change,” and the final number will still be subject to two more revisions. As is the case with every other major labor market indicator, manufacturing employment began steadily increasing seven years ago in the wake of financial and economic rescue measures passed by the Obama administration. Employment in the sector has been relatively flat the past year:

    In total, the jobs report for the last month wasn’t very different from other reports of the recent past, which had become routinely positive since the economy began recovering from the Great Recession. And Romans’ adoring portrayal seemed more suitable for the professional sycophants at Fox News than the reporting team at CNN.

  • On Cue, Adoring Pro-Trump Outlets Fawn Over February Jobs Report

    Right-Wing Media Sycophants Are Apparently Done Nitpicking The Monthly Jobs Data Now That Trump Is President

    Blog ››› ››› CRAIG HARRINGTON

    Right-wing media reacted with predictable enthusiasm to a better-than-expected February 2017 jobs report from the Bureau of Labor Statistics (BLS), which they attributed to President Donald Trump’s unique leadership. In reality, the economy is currently enjoying a 77-month streak of job creation that began under President Barack Obama -- whom the same outlets routinely blasted for leading a sluggish economic recovery.

    On March 10, the BLS released its monthly jobs report for February 2017 showing that the economy added approximately 235,000 jobs last month and the unemployment rate remained little changed at 4.7 percent. After accounting for minor upward revisions to data from December and January, the economy has produced an average of 209,000 jobs per month over the past three months.

    As Politico’s chief economics correspondent, Ben White, pointed out, the positive report is “a continuation of a good, long trend” and shouldn’t be attributed directly to Trump. White also noted that it is hard to see a “Trump bump” in the February jobs data, which look “nearly identical” to those of February reports from the past two years. Economist Elise Gould of the Economic Policy Institute (EPI) explained this phenomenon at greater length in a March 10 blog, pointing out that Trump “inherited an economy that was already making steady progress towards full employment”:

    Today’s jobs report, which showed the economy adding 235,000 jobs in February, is notable for being the first BLS report of the Trump administration. It may be tempting for today’s policymakers to claim credit for this solid employment growth, but credit is only truly deserved when the economy grows faster than expected. It’s important to remember that President Trump inherited an economy that was already making steady progress towards full employment.

    The jobs data are certainly strong -- and they undermine Trump’s claim that he inherited a “mess” from his predecessor -- but not everything in the report was good news. Bloomberg financial columnist Conor Sen pointed out that the February report showed a drop in employment for workers without a high school diploma, and University of Michigan economist Betsey Stevenson noted that labor force participation for men actually declined slightly while participation rates for women increased.

    These measured responses from expert journalists and professional economists were not echoed by Trump’s cohort of right-wing media devotees, who trumpeted the jobs report as a major victory for the administration. Under a headline proclaiming that the American economy was “GREAT AGAIN!” Breitbart economic editor John Carney -- who was hired to shepherd the fringe website out of the alt-right fever swamp -- absurdly claimed that job creation last month was “jaw-dropping” and that the “jobs market is sizzling.” On Twitter, the right-wing Drudge Report also proclaimed the report showed America was “GREAT AGAIN.” On Fox Business’ Varney & Co., host Stuart Varney stated that we could be witnessing a “Trump expansion” after 77 months of job creation -- 76 of which predate Trump:

    On Fox News’ Fox & Friends, the co-hosts joined Trump surrogate Newt Gingrich in lauding the report. Co-host Pete Hegseth stated that Trump is simply “winning everywhere” while Gingrich suggested that “you're seeing the beginnings, I emphasize ‘beginnings,’ of a potential Trump Economic Era”:

    Media Matters pointed out last month how quickly Fox News had shifted from nitpicking the jobs reports to lauding them after Trump’s inauguration -- so quickly, in fact, that the network incorrectly credited a January expansion to the new president. New York Times reporter Sopan Deb mocked Trump and his right-wing allies for suddenly embracing positive jobs data that they spread conspiracy theories about just months ago, while New York magazine writer Jonathan Chait questioned why no outlets were reporting the more than 90 million people who are currently out of the labor market -- a favorite right-wing media misrepresentation during the Obama administration. As FiveThirtyEight chief economic writer Ben Casselman pointed out, no president deserves singular credit for monthly job creation in the vast American economy.

  • Apparently The Jobs Report Is No Longer A Massive Conspiracy?

    ››› ››› CRAIG HARRINGTON

    President Donald Trump immediately retweeted right-wing media praise for a strong February 2017 jobs report from the Bureau of Labor Statistics (BLS), which showed above-average job creation and a steady unemployment rate last month. Trump’s willingness to embrace the BLS monthly jobs report is at odds with his past approach -- at least over the last four years -- of slamming the number as “phony” and as merely a political tool of the Obama administration.

  • Watch Fox & Friends Accidentally Praise Obama's Last Jobs Report

    Fox Credits Trump With January Job Creation He Inherited From President Obama

    Blog ››› ››› ALEX MORASH

    Fox News gushed over the jobs report for January 2017, the last of former President Barack Obama’s presidency, calling it “fantastic news” but implicitly crediting Donald Trump, who wasn’t even in office when the data were collected, for the success by calling it the “first jobs report under President Trump.”

    Fox News correspondent Heather Nauert praised the January jobs report from the Bureau of Labor Statistics (BLS) on the February 3 edition of Fox & Friends, referring to it as “the first jobs report under President Trump” and labeling it as “fantastic news.” Nauert praised the report for showing that 227,000 new jobs were created in January, which she described as “a lot more than expected.” Nauert failed to mention Barack Obama, who was still the president of the United States for most of January. She concluded the segment by reiterating that this is “great news on the jobs front this morning” and suggesting Trump “would call that huge.” From Fox & Friends:

    Unfortunately for Fox’s pro-Trump narrative, the job creation in this report does not belong to his administration. University of Chicago economist Austan Goolsbee, a former chairman of President Obama's Council of Economic Advisors, pointed out that the "reference week" for the latest jobs data ran through January 12, meaning the entire report predates the Trump administration by over a week. Washington Post reporter Glenn Kessler, who runs the paper's fact-checking research, also noted that the report "still reflects the Obama administration.” Fox also neglected to mention that the report marks 76 consecutive months of job growth -- the longest on record -- for Obama.

    The positive coverage of the report is a complete turnaround for Fox, which went to great lengths to portray strong jobs reports in a negative light during the Obama administration.

    In February 2015, the economy added 257,000 new jobs, but Fox was concerned that the unemployment rate ticked up by 0.1 points -- the same increase the rate showed in today’s report. In October of that year, Fox & Friends stumbled through a news alert in which a host claimed the economy created “only 271,000 jobs … last month” even though that report, like the data released today, also beat expectations. Last January, Fox’s spin was to claim that 292,000 new jobs was “modest by historical standards,” though it was well over this month’s 227,000. And in April 2016 the network parsed the jobs data to conclude that a report showing 215,000 new jobs was unimpressive because 47,000 of those were allegedly low-quality retail positions -- yet Nauert made no such comment about the 46,000 retail jobs included in today’s report. As Election Day drew near, Fox & Friends falsely claimed that steady jobs data for October 2016 were “underwhelming” and spun the news as a boon for Trump’s presidential candidacy.

    Media Matter’s predicted last month that Fox would retool its message on job growth to coincide with Trump’s presidency, arguing that the network’s “campaign of misinformation will likely come to a screeching halt next month.” Fox's spin on the jobs report this morning follows a consistent, deliberate, and predictable strategy of playing the role of Republican cheerleader and “propaganda machine.”