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May 7, 2009
Surprise! New York Times hints the economy is getting better
Rick Moran
Since we had to endure 8 long years of gloom and doom economic news from the New York Times, it is interesting to see that now that there is a Democrat in the White House overseeing the worst recession in a couple of decades, the paper is all but proclaiming that good times are on the way.
Steven Greenhouse has the incredible news:
Everyone knows the grim news - unemployment in the United States has jumped to 8.5 percent, a 25-year high, and is racing toward double digits. Since November, the nation has lost more than three million jobs.
But not everyone knows the brighter side to the equation: deep in the maw of the deepest recession since the Great Depression, millions are still being hired.
So, while 4.8 million workers were laid off or chose to leave their jobs in February, employers across the country hired 4.3 million workers that month, according to the Bureau of Labor Statistics.
"The best thing you can say about these numbers is it speaks to the dynamism of the U.S. economy, and the net negative number that we all traffic in masks that," said Robert J. Barbera, chief economist at ITG, a research and trading firm. "Ninety out of 100 people who know the number - 650,000 were lost in February - think that means no one was hired and 650,000 were fired."
Ah yes, the "brighter side." Funny we never saw a story like this during the 8 years of the Bush Administration. Then, the emphasis was on all those heartbreaking statistics about underemployment, homelessness growing, and how hard it was for the middle class to make ends meet.
Not today. The US economy is creating jobs by the bushelfull. Of course, it has always created jobs by the bushelfull. It's just that the New York Times never made note of it lest any good news escape onto its pages and credit the Bush Administration with doing something good.
Someone pull the plug on these guys.
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