While reporting that weekly jobless claims have fallen to a five year low, Fox News' Jenna Lee said that, "much of the job growth has come from fewer layoffs, not increased hiring, which begs the question whether it is real job growth at all." While Lee implied an inverse relationship between jobless claims and job growth, the U.S. Labor Department's first time unemployment claims report is only an indicator of layoffs, not job growth. In fact, the April jobs report showed that 165,000 jobs were added to the economy and the unemployment rate fell to 7.5 percent - the lowest since December 2008.
On the May 9 edition of Fox News' Happening Now, host Jenna Lee reported on the weekly initial jobless claims report issued by the Labor Department. Lee acknowledged that the numbers were encouraging but then erroneously framed the report as an indicator of slowed job growth, questioning "whether it is real job growth at all."
Lee's question implied an inverse relationship between the job growth and initial jobless claims report, which is a weekly report that tracks the number of Americans who apply for unemployment benefits. Jobless claims don't measure job growth, as Lee implies. The data are only a proxy for layoffs and necessarily do not measure job growth - if someone does not get laid off, that's a job maintained, not created. Contrary to Lee's suggestion, Bloomberg reported that, "Initial jobless claims reflect weekly firings and tend to fall as job growth -- measured by the monthly non-farm payrolls report -- accelerates."
Lee questioned "whether it is real job growth at all." According to the report that actually tracks job growth, employers added 165,000 jobs in April and the unemployment rate fell to 7.5 percent -- the lowest it has been since December 2008. Private sector job growth has consistently risen since 2009:
But Fox News recently attacked that report, too. Their coverage was largely negative, despite the fact that economists generally agree that the report shows positive gains in the labor market.