Media Lesson: Comparing Economic Reporting

Media Lesson: Comparing Economic Reporting

Check out the difference in these two stories.

First, a Reuters story about the current job situation in the US:

Yahoo! News - U.S. Job Growth in January Disappoints

WASHINGTON (Reuters) - The U.S. economy created just 112,000 new jobs in January, far fewer than expected, government data showed on Friday in a disappointing report that will likely weigh on President Bush (news - web sites)'s re-election campaign. . . .

"The payrolls number was well below market expectations and confirms the jobs market in the U.S. is weak," said Daniel Tenengauzer, vice president for foreign exchange at Lehman Brothers.

Analysts had been expecting the economy, which has been showing strength in areas outside the jobs market, to add 150,000 new jobs in January after an originally reported gain of only 1,000 the previous month. The department revised the December figure to an increase of 16,000.

Now, the AP version of the same story:

FOXNews.com - Business - Unemployment Rate Falls; 112,000 New Jobs

WASHINGTON — The nation's unemployment rate dropped to 5.6 percent in January to the lowest level in more than two years as companies added just 112,000 new jobs — fewer than expected but enough to keep alive hope for a turnaround in the struggling job market.

The jobless rate fell 0.1 percentage point last month to the lowest level since October 2001, when it was 5.4 percent, the Labor Department (search) said Friday. January's rate matched the 5.6 percent posted in January 2002.

Employers added new jobs last month at a pace not seen in three years. The last time payrolls expanded more than 112,000 was in December 2000, when companies added 124,000 positions.