Monday's economy & business stories

WSJ editor tells staff criticism of their coverage is fake news
Per Politico, WSJ editor Gerri Baker defended the paper's coverage of President Trump in a town hall meeting Monday.
Key Takeaways:
- The paper's Editor-in-Chief Gerry Baker told staff that anyone who accuses the paper of not being critical enough of the President is peddling "fake news"
- Baker reportedly told employees who are unhappy with the paper's coverage that they should work somewhere else
- Staffers had rising concerns for months about the direction of the paper's coverage
Why it matters: WSJ is owned by Rupert Murdoch, who blasted Trump during the primaries for "embarrassing his friends" and the whole country. It appears as though they have since made amends. Axios previously reported a list of instances that show how the Murdoch/Trump relationship has evolved since the campaign.

Trump's unrealistic unemployment standards
President Trump continues to argue that the real number of unemployed Americans is much higher than economists claim. He places the true number of unemployed at 96 million, or every American over the age of sixteen who doesn't have a job, even if he doesn't want one.
Bloomberg reports that Trump's unemployment exaggerations resonate with many of today's unemployed, who are often held back by geography, disability, felon status, or age discrimination. The official unemployment rate might be at an historically low 4.9%, but broader unemployment measures have stayed relatively high, with many Americans being shut out of the labor force altogether.
Data: Bureau of Labor Statistics
What's coming next: Structural forces like the aging of the workforce and the increasing importance of education will likely push this number lower, whatever the policies coming out of Washington.
How to avoid fake news
AP's Carolyn Thompson describes how teachers, from elementary school through college, are now telling students how to avoid fake news. Their lessons focus on how to distinguish between factual and fictional news — and why they should care that there's a difference. Tips on distinguishing fake news from the real thing:
- URL look odd?
- Does it make you mad?
- If it's real, other news sites are likely reporting it.
- Caps lock and multiple exclamation points don't have a place in most real newsrooms.
- It might be satire.

Washington Post to publish breaking news on Snapchat
The Washington Post will be the first content partner to provide breaking news updates throughout the day on Snapchat Discover.
How is this different? The Post will be the first publisher to update its Snapchat content multiple times per day, vs. other news providers that publish once or twice per day. The paper says it's building out a separate team to manage the new product, which will include video and motion graphics experts.



