Although the Los Angeles Times took a break from reporting economic news about the unemployment situation, both USA Today and the New York Times reported that the jobless rate remains unchanged at 9.7% nationally, leaving room for hope that the economy is recovering. 36,000 jobs were lost in February, which is, by no means, a number to be excited about. Companies are expected to hire again in the upcoming spring and summer seasons. Both papers agree that the construction industry cut 64,000 jobs and are less likely to recover than other industries. USA Today and the New York Times were very factual in their presentation, exuding both, hope and reality, in an uncertain economy.

According to economists, the amount of people who are claiming unemployment and job loss has dropped from last week's 3 month high. USA Today believes this shows a sign that layoffs may be slowing down and the economy is slowly recovering, while the New York Times says hope has been revived that just the labor market is the one recovering. Los Angeles Times reports that if history repeats itself with the current situation (an increase in demand), that companies will have to start hiring again to keep up with supply. The newspapers don't spend too much time on the topic, moving on to how the housing market is still suffering. USA Today stated demand for housing sank this winter, and New York Times piggy backed on that reporting sales fell 7.6% in January. These two newspapers seem to be the most active in reporting progress on the economy, while the Los Angeles Times almost seems to be burnt out, only supplying approximately a paragraph of summary information.

Ask 5 different economists where the US is as far as recovering from the recession and you'll get 5 different answers. The outlook on the economy is up in the air with experts simply not agreeing on progress. The New York Times expected the reports for February's job cuts to be well over 100,000, while the Los Angeles Times reported February cuts to be 42,090. USA Today noted that personal spending rose slightly, while the New York Times claimed average household debt ate approximately 17.5% of disposable income. Each way you look at it, the country still has a long way to go to get back to comfortable times.

Hiring is still slow to emerge because many manufacturers are still selling surplus and waiting until demand rises to continue production. Economic outlook in general appeared in jagged lines across several graphs. Each article noted a grim reality, but included hints of optimism as they explained things that have improved since the recession first hit.

Photo Credit: David Kidwell/Pocono Record, via Associated Press
Photo Caption: Job losses are expected to have accelerated in February, mainly because of snowstorms.

Senator Jim Bunning, Republican of Kentucky, on his way to a vote on Capitol Hill on Tuesday.(Brendan Hoffman for The New York Times, AP / March 1, 2010)

By: Giselle Mares
March 2,2010


The Senate ended a politically charged dead end over unemployment pay on Tuesday night, voting to allow jobless Americans in danger of exhausting their benefits another month of aid.

The New York Times was the only publication that included a photo in the story. This publication was also the longest among the three publications. A more detailed summary of the debate that occured is presented.

The Los Angeles Times provided a brief story that simply stated that a vote would be conducted on this issue.

USA Today also published a short story on this issue. This publication simply stated the 78-19 vote. This story was brief and concise.

 

In this Feb. 22, 2010 photo, Berkshire Hathaway Chairman and CEO Warren Buffett is interviewed before lunch with officials from Salida Capital, a Canadian Investment firm, in New York. (AP Photo/Seth Wenig) (Seth Wenig, AP / February 22, 2010)

By: Giselle Mares
March 1,2010

Warren Buffet stated on Monday that the economy is improving but at a slow rate. The New York Times, the Los Angeles Times, and USA Today have all published a story on this issue today.

The Los Angeles Times published the story with the title "Warren Buffett says economy recovering at very slow rate, consumers still reluctant to spend". This newspaper was the only publication that included a picture in the story. The New York Times titled the story "Buffett Says Economy Recovering but at Slow Rate" and USA Today titled the story "Warren Buffett sees housing market bouncing back by 2011". All 3 stories had a similar title. However, I believe the New York Times did a better job in naming the story. It makes the reader want to read the entire story to learn more about why the economy is recovering at a slow rate.

All three articles started the story with an immediate identification lede. All 3 named "Billionaire Warren Buffet" to begin the lede.

A patient awaits care outside a hospital in Talca, Chile. (Sebastian Martinez, Associated Press / February 27, 2010)

By: Giselle Mares
February 28, 2010