John Ransom

This week’s jobless claims came in higher than expected tending to confirm that the recovery is: 1) still very slow; and 2) jobless, despite attempts by the Obamunist-controlled press to paint a different picture.  

Politico headlined that unemployment applications “decline slightly” this week.

The Associated Press via the Chicago Sun Times- an Obamunist press if there ever was one- also reported that unemployment applications “decline slightly.” Reuters too skewed its headline: “US jobless claims edge down last week,” as did the New York Times: “US Jobless Claims Dip.”



Depending on to whom you listened, the stock market was up early in trading on the unemployment report or was down midday on the unemployment report.

Earlier in the day, one market-related website reported at the open that the market was up on jobs data that showed unemployment continuing to trend up.

The Wall Street Journal, by contrast, reported that Wall Street was up despite poor data on unemployment, largely propelled by strong company earnings.

By the end of the session, when the market finished down, it was agreed that, at least by the standards of the stock markets, the economy is swooning, not swimming and the jobs data was bad.


John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.
TOWNHALL FINANCE DAILY

Get the best of Townhall Finance Daily delivered straight to your inbox

Follow Townhall Finance!


TOWNHALL MEDIA GROUP