The Canadian government, lining the pockets of its dairy producers, imposes high tariffs on American dairy imports. That forces Canadians to pay higher prices for dairy products. For example, Canadians pay $5.24 for a 10.5-ounce block of cheddar. In Washington, D.C., that same amount of cheddar sells for $3.64. Canadians pay $3.99 for a 1-pound container of yogurt. In Washington, D.C., you can get nearly twice as much yogurt for a little over $4. It's clear that the Canadian government's tariffs screw its citizens by forcing them to pay higher prices for dairy products.
The June jobs report was more good news for American job seekers. The Bureau of Labor Statistics announced July 6, that 213,000 new jobs were added in June.
That was more than economists expected. The prior two months were also revised up, adding another 37,000 jobs.
On the morning of July 6, the U.S. Department of Labor’s Bureau of Labor Statistics announced that Hispanic unemployment in the United States had reached its lowest level, 4.6%, in the 45 years since the agency first started keeping records on the statistic, back in 1973. One would think such a historic achievement would be news that night on the nation’s leading Spanish-language television news programs, but that was not the case.
The government's Friday June jobs report showed that the economy gained 213,000 seasonally adjusted payroll jobs, while the nation's unemployment rate increased from 3.8 percent to 4.0 percent, primarily because 601,000 more Americans were in the labor force. Despite the increase in overall joblessness, the rate among Hispanics fell to 4.6 percent, its lowest level in the over 45 years of that statistic's history. Unlike in recent months, during which print and online establishment press outlets have mostly recognized record lows seen in black/African-American unemployment, the press has been very quiet about June's record Hispanic low. This has been particularly true at most of its perceived gatekeepers.
The New York Times has been obsessed with the idea that Russian "meddling" somehow affected 2016's presidential election results and prevented a Hillary Clinton presidency. The Times has also served as a conduit for several leaks by opponents of President Donald Trump and others who are sympathetic with (or even part of) Special Counsel Robert Mueller's Trump-Russia investigation. So it's more than a little ironic that Times reporter Raymond Zhong, in a Friday report (for Saturday's print edition) covering China's imposition of tariffs on certain U.S. imports, noted with how its tariffs "were chosen to hit President Trump’s supporters" without characterizing them as a clear attempt at election meddling — one with far more potential impact than clumsy attempts at social media manipulation allegedly orchestrated by Russia.
Last month, 213,000 new jobs were added to the U.S. economy — more than expected by analysts. Jobs figures from the previous two months were also revised up by a total of 37,000 jobs. This good news about job gains and increased participation in the labor market drew praise from CNBC’s panelists on July 6, even from former Obama administration economist Jared Bernstein.
On Saturday afternoon, Ken Thomas and Jon Gambrell at the Associated Press demonstrated the wire service's chronic resistance to recognizing genuinely good news during the Trump era. The pair pretended in their story about Donald Trump's Saturday conversation with Saudi King Salman that the President could only "claim" that Saudi Arabia has agreed to significantly boost its oil production in response to a tightening in worldwide supplies — even though as soon as Trump tweeted about it, the Saudi news agency confirmed its substance.
My column a fortnight ago, titled "Diversity and Inclusion Harm," focused on the dumbing down of science, technology, engineering and mathematics curricula to achieve a more pleasing mixture of participants in terms of race and sex. Heather Mac Donald, a senior fellow at the Manhattan Institute, wrote about this in her article titled "How Identity Politics Is Harming the Sciences."
Once again, the broadcast networks have proven they care more about economic news that makes President Donald Trump look bad, than stories that make him look good.
On June 25, CNBC reported that its All-America Economic Survey found “more than half the public approving” of the president’s economic decisions for the first time and more people who said the economy was “good or excellent” than in the past decade.
An obviously agenda-driven report on extreme poverty from the Office of the United Nations High Commissioner for Human Rights accuses the U.S. under the Trump administration of, in the UN group's words, "becoming a champion of inequality." It also claims that, because of its policies, "the American dream is rapidly becoming the American illusion." As one might expect, many the press have eagerly relayed the UN group's Trump-blaming findings, even though the statistics undergirding the UN group's efforts predate Donald Trump's inauguration.
Yahoo! Finance certainly has almost Krugman-like timing. New York Times economist Paul Krugman immediately reacted to the 2016 election of Donald Trump by warning of a possible “global recession.” Perhaps Yahoo! was taking pointers for its latest series.
Starbucks CEO Kevin Johnson announced Tuesday that the nation's number 3 fast-food outlet (by number of locations) is closing 150 U.S. stores. It's not difficult to read Johnson's comments as indicating that the shuttered stores will primarily be in "blue" or liberal sections of the U.S. At the same time, he has specifically targeted "middle America and the South" for expansion. The business press isn't even trying to make the obvious connection between Johnson's announcement and the respective presence or absence of high minimum-wage laws and excessive regulation.