AP Ignores Mark Zandi's Prediction of Near-Zero Fourth-Quarter Growth
February 4th, 2016 9:49 AM
On Wednesday, Christopher Rugaber at the Associated Press was tasked with covering ADP's morning report on January private-sector payrolls. At 8:15 a.m., the payroll and benefits giant estimated that the economy added 205,000 seasonally adjusted private-sector jobs last month.
Rugaber also attended the 8:30 a.m. conference call which followed the report's release. It's clear that he was on it…
AP Uses the Same Expert For Positive Words on Economy in Two Reports
January 28th, 2016 11:55 PM
The Associated Press may be down to one person in the whole wide world who will tell its economics reporters what they want to hear when the federal government releases economic data. That's what you almost have to conclude after reading the wire service's reports on two of Thursday's major releases, namely last week's initial unemployment claims and December's durable goods orders and shipments…
Memo to AP: Job Growth Doesn't Automatically Equal Economic Growth
January 9th, 2016 11:27 AM
At the Associated Press, as seen at its "Top Business News" page Friday afternoon, Christopher Rugaber opened his song of praise for yesterday's jobs report ("US EMPLOYERS HIRE AT ROBUST PACE, DEFYING GLOBAL TRENDS") as follows: "American employers added a robust 292,000 jobs in December, suggesting that the U.S. economy is so far defying global weakness and growing solidly. ..."
AP Highlights One Piece of Good Economic News, Buries 3 Weaker Ones
January 6th, 2016 4:29 PM
Today was a fairly brisk day for economic data, as four noteworthy reports were released. One of them contained good news, but with a heavy asterisk. The other three were either not good, period, or came in below expectations.
Readers here probably know which one the Associated Press was still carrying at its Top Business Stories page as of 2:39 p.m. Of course, it was the one with good news.
AP, Despite Weak Economic Data: 'Fundamentals Remain Solid'
November 29th, 2015 10:03 PM
As yours truly noted in several posts at my home blog on Wednesday and at NewsBusters on Friday and Saturday, the torrent of pre-Thanksgiving "getaway day" economic data was largely disappointing.
That didn't stop the Associated Press's Chris Rugaber from pushing the "All is well" meme late Wednesday afternoon, declaring, contrary to what anyone's eyes could see, that "the fundamentals of the U.…
AP Hides the Overall Decline in Thanksgiving and Black Friday Sales
November 28th, 2015 6:46 PM
The truth about this year's Thanksgiving and Black Friday store and online sales is out there. It's just that Christopher Rugaber at the Associated Press, aka the Administration's Press, wasn't interested in clearly revealing all of it.
Instead, the AP economics writer told readers about the dollar amount of this year's and last year's Thursday and Friday store sales, but failed to quantify the…
AP Buries Steep Industry Group Drops in Fed's Production Report
November 18th, 2015 2:46 PM
The catalog of wishful thinking technically classified as reports on the economy emanating from the Associated Press, aka the Administration's Press, grows with virtually each passing business day.
One of yesterday's additions to the mountainous pile came from the AP's Christopher Rugaber. Tasked with covering the Federal Reserve's report on October's industrial production, he devoted 10 of his…
AP Pair 'Fact Checks' an Achieved Goal and a Completely True Statement
November 12th, 2015 11:55 PM
The "fact-checking" press has become a parody of itself during the past several years.
It's not only because of their irritating penchant for putting statements by Republicans and conservatives under a twisted microscope while ignoring drop-dead obvious falsehoods delivered by Democrats and leftists. It's because, among other things, the fact-checkers often admit that a statement is true, but…
AP Pair's GOP Debate 'Fact Check' Promotes Minimum-Wage Fiction
November 12th, 2015 10:58 AM
Tuesday evening, Associated Press economics writers Christopher Rugaber and Josh Boak attempted to "fact check" statements made by candidates at the just-completed Republican presidential debate.
Claiming that "The fourth Republican presidential debate was thick on economic policy — and with that came a variety of flubs and funny numbers," the two writers botched at least half of the six points…
Without Evidence, AP Credits 'Solid Sales' For Home Price Index Uptick
October 28th, 2015 12:59 AM
To err is human, but some errors are more obvious than others.
One pretty obvious error occurred Tuesday at the Associated Press. It involved veteran economics reporter Christopher Rugaber, who somehow assumed that the August increase in home prices recorded in a well-known index published on Tuesday primarily occurred because of "solid sales." The problem is that seasonally adjusted existing…
AP Fails to Note 21,000 Jobs Lost in Government's State Jobs Report
October 21st, 2015 6:55 PM
On October 2, the government's Bureau of Labor Statistics reported that U.S. payroll employment increased in September by a seasonally adjusted 142,000 jobs. That was disappointing enough, but then the BLS's regional and state report for September released on Tuesday showed a combined total of 21,000 jobs lost in all 50 states and DC.
In his coverage of the state report, the Associated Press's…
AP's Reported 'Fastest Pace' in Home Sales in Seven Years Really Isn't
September 25th, 2015 10:56 AM
Thursday morning at the Associated Press, aka the Administration's Press, Christopher Rugaber opened his coverage of the Census Bureau's New Residential Sales report as follows: "Buoyed by steady job gains and low mortgage rates, Americans purchased new homes in August at the fastest pace in more than seven years."
Sorry, pal, it was the "fastest pace" in — wow — three months. The bureau's not…
Press: Aug. Job Growth Lowballed; If Revised, It Will Still Be Weak
September 6th, 2015 11:51 PM
A popular meme in the wake of Friday's jobs report seen at many media outlets is that August's reported job growth of 173,000 seasonally adjusted jobs is a virtual lock to be revised up by 50,000, or 78,000, or perhaps even more, since such revisions during the past three years have been unusually large.
Well, since they opened that can of worms, let me make clear to everyone that even if those…
U of M, AP Falsely Blame Consumer Sentiment Drop on Market Plunge
August 28th, 2015 10:22 PM
At the Associated Press today, Christopher Rugaber appears to have played along with a game of make-believe in his coverage of the August release of the University of Michigan's Survey of Consumers.
The index dropped for the second straight month, this time from 93.1 to 91.9, a point below August's prelimnary reading of 92.9. That trailed expectations that it would come in at 93.0. The survey's…