May 2017’s jobs report came out…the US employers added jobs, unemployment dropped. The facts, at least on their face, appear to be good news. When we were looking at the headlines, we looked at the various headlines gathering data on the subject and found something interesting…
…look at the headlines reporting the news:
May Jobs Report: 138,000 More On Payrolls; Unemployment Dips Slightly
US adds 138K jobs in May as jobless rate falls
Slower Hiring, Unemployment Drop Give Mixed U.S. Labor Signs
Economy adds disappointing 138K jobs in May, unemployment falls to 14-year low
U.S. employers slow hiring in May, but jobless rate hits 16-year low
As the headlines show, there is a slight mix between good news and not so good when it comes to the jobs market. We found it interesting that the headlines differed slightly and the slight difference delivers a varied message.
The first headline is largely positive telling the reader that jobs are up and unemployment is down. Then there is the headline saying “economy adds disappointing 138k jobs…” This headline delivers a more negative view of the jobs report.
We reviewed all the articles behind the headlines. Some were more detailed than others. Some reported more data than others. However, although each reported the news in different ways, we found the message to be consistent. We should note that the tone of the articles, like the headlines, differed slightly. However, based on our review, here is the takeaway from the different headlines and reports on the job market:
Employers added 138,000 jobs and unemployment dropped to 4.3%.
Of course, there are a lot of factors contributing to the number of jobs added and why the unemployment rate fell, but if you are factual about the news the best headline might read:
138,000 jobs added, Unemployment at 4.3%.
The headline is a factual summary and objectively delivers the essence of the report.