I heard the jobless report called "good news" on radio this morning and then I saw an article on it. WSJ goes for a happy-faced headline.
Here's what could've been said instead:
"The bad news is we’re still hemorrhaging jobs. The other bad news is we’re hemorrhaging jobs faster than last week. The good news is that we've only hemorrhaged 439,000 jobs this week! It's only ‘a bit’ more than last week! Celebrate!
Let's all say it's a rise of 2,000 although our claim for last week was really 4,000 lower. We'll adjust up last week's claim number by 2,000 and hope you don't notice our slight of hand!"
This reminds me why I've mostly ignored the news in recent years.
Jobless Claims Rise a Bit
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