Friday, May 9, 2014

Spin it positively!

I get amused by market commentators sometimes.

Journalist on bloomberg:
"US unemployment rate falls to 6.3%, the lowest SINCE september 2008."
"288k, the best number we've see SINCE jan 2012."
"But the participation rate drop to 62.8%, the civilian labour force dropping by almost 800k"

Participation rate is the lowest SINCE when? Since 1978. Of course it isn't mentioned. Gotta keep a positive spin to it. (Absent the convenient kicking of people out of the labour force statistic, the unemployment rate is well above 10%)

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