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COMMENTS: Economy Expectations Game
Just as the Gross Domestic Product statistics Wednesday failed to reflect the feared formal start of a recession, so the April unemployment data failed to produce the 75,000 lost jobs that CNBC's Trish Regan expected on Thursday on NBC. The unemployment rate actually improved marginally, from 5.1% to 5.0% with just 20,000 fewer jobs that the month before. Only CBS assigned a correspondent to cover the statistics: "If we are in a recession these numbers suggest it may not be as deep as some feared," stated Anthony Mason, looking for the silver lining. Nevertheless, "the economy lost jobs for the fourth straight month" with construction, manufacturing and retailing taking "the hardest hits."
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