John Ransom

The number of U.S. states reporting initial unemployment claims has dropped to a new low under Obama- and more importantly journalists have dropped to a new low as a result.

Previously physicists had predicted that journalists couldn’t get lower.

Guess what? They were wrong. 

I call it the Obama effect: No matter how crappy things are, adding Obama can make it just a little but crappier.

Only 49 of 50 states reported initial unemployment claims last week according to Labor Department economists. This has led to a predictable, yet wholly pathetic attempt by the media to say that unemployment claims have fallen to a new, four-year low even as it is suspected that the most populous state, California, didn’t report results.   

Reports the Washington Post via the AP:

“The number of Americans seeking unemployment aid plummeted last week to seasonally adjusted 339,000, the lowest level in more than four years. The sharp drop, if sustained, could signal a stronger job market. The Labor Department said Thursday that weekly applications fell by 30,000 to the fewest since February 2008. The four-week average, a less volatile measure, dropped by 11,500 to 364,000, a six-month low.”

That would be true if, say, the Mexican-American War hadn’t happened, say historians familiar with more remote parts of American history, like how many states we have in the country.

No word if journalists from the AP are busy looking for California. But here’s a hint: Point north, and then take a BIG turn to the left. 

Because, according to sources close to the situation, the war that started in 1846 between Mexico and the United States, led to American annexation of California and its subsequent formation as a state in the American Union.

Says USA Today: Claims for unemployment benefits plunge 30000!!

Reports the LATimes: New jobless claims plunge to 4 1/2-year low!!!!

Reports John Ransom: You trust these guys to get any story right????

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.

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