Unemployment

Charlie Rose omitted mentioning the continuing high unemployment rate as he interviewed Treasury Secretary Tim Geithner on Tuesday's CBS This Morning. Rose also forwarded a criticism Geithner from the left, that the Cabinet official was "too friendly to the banks, because he knew them from his years at the New York Fed." The anchor also didn't challenge the Obama administration official's…

Gosh, if Apple would only send the money it has parked overseas back to the United States and pay income taxes on it, the federal government's situation would be so much better, the budget would would balance, and ... no, not really. According to Peter Svensson at the Associated Press, the company has $74 billion in cash parked overseas, meaning that it would owe federal income taxes of about $…

In case you missed it (which wouldn't be surprising given how quiet the press has been since the related report's release, the Department of Labor reported that initial claims for unemployment rose to a seasonally adjusted 386,000 from a review (up, or course) 352,000 the previous week. An unbylined Reuters report carried at CNBC (HT to an NB tipster) bizarrely described this result as a "…

Todays unemployment claims release from the Department of Labor reported that initial jobless aid applications for the week ended July 14 were 386,000 after seasonal adjustment. Business Insider's email this morning carried a prediction of 364,000. Bloomberg's consensus prediction was 365,000. At the Associated Press, in his 8:45 a.m. dispatch (saved here for future reference, fair use and…

A study released Wednesday from accounting firm Ernst & Young, which estimated that the U.S. would lose 710,000 jobs if the Bush-era tax cuts on the highest income earners aren't renewed, apparently isn't newsworthy to CBS. The network's Tuesday evening and Wednesday morning newscasts omitted the study, which also predicted that the nation's already struggling economic output would decline…

New New York Times reporter Rebecca Berg gave the Obama camp the benefit of the doubt in Wednesday's "Shift in Welfare Policy Draws G.O.P. Protests." Berg didn't question whether the administration was purposely weakening welfare reform's work requirements for political advantage, but merely assumed the Obama camp was making a purely procedural move to give states "more latitude" in…

Democrats are at it again, claiming that Republicans, particularly House Republicans, are sabotaging the economy, while ignoring the quite effective job President Barack Obama has done to ruin the economy both on his own (regulatory and anti-fossil fuel hostility, wasteful green "investments," etc.) and with the help of Congressional Democrats when they controlled both Houses of Congress (…

One might think that yours truly, who has been nagging the establishment press for years over its blind acceptance of seasonally adjusted data in government economic and employment reports, would be pleased to see that the Associated Press's Christopher Rugaber finally got around to making such adjustments the primary focus of his final report on the most recently released unemployment claims…

In an interview with Romney campaign advisor Ed Gillespie on Thursday's NBC Today, co-host Savannah Guthrie fretted over Republicans dismantling false Obama campaign attacks that Romney outsourced jobs as head of Bain Capital: "I want to get to a new ad that your campaign is putting out today....are you calling the President a liar?" Gillespie didn't shy away from the charge: "What we're…

Appearing on Wednesday's Andrea Mitchell Reports on MSNBC, Washington Post financial columnist Steve Pearlstein accused Mitt Romney of being responsible for Bain Capital outsourcing jobs, even after leaving the company: "...they were doing it because that was the company that Mitt Romney had set up. I'm not saying that's bad. But for him to say, 'Well, not on my watch,' is – is, you know, a…

Editor’s Note – It is advisable to remove any sharp or heavy and blunt objects from your immediate vicinity before reading this. If seated at a computer, place something soft on the desk in front of you. CMI is not responsible for injury incurred as reaction to this article" "I suppose that I'm grateful that I can make all my car payments and start saving for retirement while most of my…

The Jurassic Press was in full-throated ObamaChorus mode in reporting on General Motors (GM)’s allegedly strong June sales. Very few failed to receive the sheet music.

The June jobs report was “very disappointing” for the Obama administration and to people looking for work, according to CNBC’s John Harwood. The 80,000 job gains was 20,000 short of expectations, and the unemployment rate was unchanged. Moody’s economist Mark Zandi, who has often found a bright side to negative reports, reacted that way again saying there were “silver linings” in the report…

It might sound ridiculous, but Time magazine writer Michael Crowley actually grumbled in an article on Monday that the GOP presidential candidate is “One-Note Mitt” Romney, whose campaign defines this year's election as merely “a referendum on Obama's handling of the economy.” The author then noted that with “almost comical discipline,” Romney “steers virtually every topic” back to the…