45,000 Jobs Lost “Deeply Troubled Economy”; 345,000 Jobs Lost “Brightest Hope Yet”
News reporters aren’t supposed to be partisan, and look at the lead paragraph from a dispatch by the Associated Press’s Jeannine Aversa, headlined “US Loses Just 345,000 Jobs in May, Raising Hopes”:
Employers throttled back on layoffs in May and cut the fewest jobs in any month since the financial crisis erupted last fall–raising the brightest hope yet that an economic recovery will take hold later this year.
Contrast that with Aversa’s report on the same statistic a year ago, titled “Jobless Rates Jumps [sic] to 5.5 Percent–Biggest Rise Since ’86″:
The nation’s unemployment rate jumped to 5.5 percent in May–the biggest monthly rise since 1986–as nervous employers cut 49,000 jobs.
The unemployment rate was 5.5% then; now, it is 9.4%. The number of jobs cut last month was seven times as high as in May 2008, and this comes on the heels of months of even greater job losses. But last year’s numbers, according to Aversa, “showed a deeply troubled economy, with dwindling job opportunities,” while this year’s raise “the brightest hope yet.”
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