Posted by
Always To The Right on Sunday, November 08, 2009 2:06:25 AM
The AP has been trying hard to sell the idea of recovery over the last few weeks, but even the AP can’t spin double-digit unemployment.
In a piece published last night, they took a decidedly pessimistic tone
in reporting the accelerating pace of job losses, using the somewhat
ironic headline “What recovery?”
The economy “relapsed”? Not exactly. The unemployment rate has
been rising steadily all year long, with a slight and momentary
decline in July. The month-over-month increase is the largest since May, and four times as large as the last monthly difference.
So why call it a relapse?
The AP has been talking about “recovery”
for a couple of months in its financial reporting, which was
substantiated by nearly no data at all.