(Whisper it …. Gallup say unemployment has fallen from 10% to 7.3% in 2 years)
PS I have absolutely no clue how accurate Gallup’s unemployment figures are, they’re an organization I don’t trust very much – the point is that Gallup are taken very seriously by the media when it suits, but there’s not much reporting of this today. Hey, go figure 😉
MarketWatch: The number of Americans who filed requests for jobless benefits fell by 19,000 last week to a seasonally adjusted 366,000, putting claims at the lowest level since May 2008.
…. Economists surveyed by MarketWatch had projected that claims would rise to 390,000 in the week ended Dec. 10.
Jobless claims have fallen below 400,000 – a level historically associated with an improving labor market – in five of the past six weeks.
USA Today: Nearly 2 million home care workers could qualify for federal wage and overtime protections under a rule being proposed today by the Obama administration.
The effort – the 18th initiative in Obama’s “We Can’t Wait” campaign against Congress – would overcome legislative inertia and a 2007 Supreme Court ruling that upheld home care workers’ exclusion from wage-and-hour standards.
Bloomberg: Applications for unemployment benefits fell more than forecast last week to the lowest level since April, a sign the weakness in the labor market is fading.
Jobless claims dropped by 24,000 to 398,000 in the week ended July 23, Labor Department figures showed today in Washington. The median estimate of economists in a Bloomberg News survey called for a drop to 415,000. Another report showed the number of contracts to buy previously owned homes unexpectedly rose in June.
“The figures are encouraging, though we need to see a sustained decline in claims,” said James O’Sullivan, global chief economist at MF Global Inc. in New York. “The direction in claims invariably sends the right signal for growth in employment.”
Media Matters update: I’m willing to grant the fact that when you put together a daily three hour morning show like Fox & Friends, mistakes are bound to happen …. however, incidents like this really test the limits of what can be considered an honest mistake.
….If you thought Fox would either ignore the poll or claim it is inaccurate, you underestimate the network’s capacity for blatant dishonesty in service of pushing GOP propaganda.
….At the end of the show, Kilmeade offered a brief correction, saying that he “had it reversed” when discussing the poll. Now, it’s possible that Kilmeade’s butchering of the poll results can be chalked up to his inability to read a poll or misspeaking.
However, it wasn’t just Kilmeade who “had it reversed.” Fox News had a graphic ready to go that repeated Kilmeade’s distortion, suggesting that this misrepresentation was premeditated by the network…
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