Economic Upswing People Recession

In a recent interview Lawrence H. Summers, director of the National Economic Council for the Obama administration, said the United States is in a “statistical recovery” and “human recession.” The characterization is more revealing than the usual balderdash from egg heads like Summers.

Latest estimates for television advertising growth anticipate an increase of 7.5 percent pushing ad revenues to $17-billion this year according to Media Daily News. The website points to a BIA/Kelsey report the growth will come from an improving economy and political advertising from mid-term elections.

Financial reports from media groups are interesting. Fisher Communications reveals earnings up 31 percent in the first quarter of 2010. Entravision cites five percent growth for the same period. Meredith Corporation shows 20 percent. However, the Associated Press failed to show a profit last year.

The pundits forecast an upturn in the life blood of media. Media Daily publishes a report indicating a modest boom in advertising buys.

“By contrast, both pricing and total upfront ad spending are expected to be on the upswing this year.”

The Obama administration credits their economic stimulus plan with lifting the nation out of recession. Jobless claims are declining which leads us to believe there is an increase in employment.

The U.S. Bureau of Labor Statistics reports employers laid off fewer workers in the past month resulting in a decline in unemployment claims. The language used to report circumstances of people who buy products media advertises is ambiguous at least. So let’s set it straight. Fewer people are losing jobs however jobs growth to provide currency needed to fuel a true recovery is skimpy if at all.

The best interpretation of employment or the economic situation of Americans media depend on is offered by Mint, in my opinion. Examine the website’s blog post “Who is Feeling The Pains of Unemployment and Why.” Hence my opinion of Summers’ economic assessment of improving stats and continued human misery. Let’s be hopeful of recovery but let’s also be realistic. Is there a recovery without one for humans?

Next Broadcast Newsroom Computing introduces another blogger keeping an eye on media technology.

James Rowe

Rowe and Company, LLC

 

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