CNN reports weak employment growth (finally)

Our press catches on eventually as witnessed by this story:

There’s little dispute that U.S. job growth has been well below normal since the last recession ended in November 2001. But rather than strengthening anytime soon, the labor market may not pick up much, or at all, at least for the foreseeable future, a growing number of labor market experts and Wall Street economists are saying.

The story continues with lots of quotes from independent economists as well as noting that the CEA is now forecasting 175 thousand new jobs each month for this year as opposed to their forecast for last year that employment would grow by 300 thousand. CNN is right that the independent economists were not disputing the weak job growth over the past three years, but there certainly was a lot of confusion among the press before the election last fall.