Reuters reports that jobless claims are at a four-year high. Everybody panic!
Wait a minute, hold on. Context, please. Just how were things back in 2004, the last time jobless claims were this high? It turns out GDP grew by 3.1%. The economy also added 1.989 million net jobs that year. I’ll take numbers like that any day.
Reuters suffers from pessimistic bias, like most media outlets. They assume that the current jump in jobless claims is de facto evidence that the economy is in free-fall. Fortunately for all of us, that claim doesn’t hold up against the data.
Inertia Wins! 
It seems to me as though the media is trying to sell us all on the idea that the economy is getting better while the job situation here in this country is not getting any better at all, I think it’s getting worse myself. Without jobs, there will be no real recovery…triple period