Axios

Steve Bannon's old, right-wing news company, Breitbart, defended their former CEO when covering his exit from the National Security Council by blaming the media for blowing the story out of proportion.

1. "Steve Bannon Leaves National Security Council After Susan Rice Takedown." The first piece featured Bannon's quotes on his mission being "complete," referring to dealing with Michael Flynn and Susan Rice.

2. "Left Revels in Media Narrative on Bannon and NSC: 'Huge Victory for the Resistance.'" The second piece shifted to blaming left-wing media for blowing the story out of proportion.

The lede: "As soon as the media learned Steve Bannon, one of President Donald Trump's senior advisers, would no longer have a "permanent seat" on the National Security Council, the headlines shouted he'd been 'removed,' 'booted,' and 'demoted.' In fact, Bannon remains a close adviser to Trump, with top security clearance and an open invitation to attend NSC meetings."

What to watch: There have already been 4 negative Breitbart reports about Jared Kushner in the past two days, so expect there to be more — especially if Bannon leaves the administration, as Mike Allen was told is a real possibility.

The U.S. economy added just 98,000 jobs in March, while the unemployment rate fell to 4.5%—below economist's expectations of 180,000 new jobs and a 4.7% unemployment rate. Job gains for January and February were revised down by 38,000, as well.

Beyond the headline: Job growth was likely slowed by a snowstorm that hit the East Coast in the middle of March, when the BLS was conducting its survey of businesses. Jobs filled by part-time workers who did no paid work that week as a result of the storm would have been left out of the total job count.

Lower unemployment rate: That unemployment rate is derived from a separate survey of households, which showed much stronger job growth than the more closely-watched establishment survey. This serves as evidence that the establishment survey likely underestimated job growth due to weather effects. As University of Michigan Economist Justin Wolfers put it:

Don't get caught up in any "slowdown" hype -- payrolls growth over the past three months have averaged a healthy +178k. Not bad at all. — Justin Wolfers (@JustinWolfers) April 7, 2017

The volatile relationship between the Administration and the news media, combined with the prevalence of fake news and misleading content online, is causing Americans to feel more confused about who and what to believe than ever before.

Trust in institutions at historic low: A 2016 Gallup poll ranks the least-trusted U.S. institutions. Not surprisingly, television, newspapers, big business and Congress all rank at the bottom of the list with less than 10% of Americans having a great deal of confidence in those institutions.

Data: Gallup; Chart: Andrew Witherspoon / Axios

At least 56 companies have announced that they are pulling ads from "The O'Reilly Factor" after multiple women have accused Bill O'Reilly of sexual harassment, and the list is continuing to grow.

Paul Rittenberg, EVP of ad sales at Fox News, released this statement Tuesday night:

"We value our partners and are working with them to address their current concerns about the O'Reilly Factor. At this time, the ad buys of those clients have been re-expressed into other FNC programs."

Read highlights from the company statements below:

General Electric is seeking to sell its consumer-lighting business for around $500 million, the Wall Street Journal reports.

Why it matters: GE's founder, Thomas Edison, invented the first commercially viable lightbulb more than 125 years ago, and the light bulb business has been one of GE's most recognizable for generations. That they are considering the move is further evidence that in order to thrive, large American manufacturers must focus on high-tech, high-value parts of the supply chain in order to leverage America's advantages, like a highly-skilled workforce.

Donald Trump Jr. told members of an elite gun club in New York that he's interested in running for office:

Do I want to be behind the scenes and be a mouthpiece and fight back against crazy liberal media? Maybe.

The details: He's specifically interested in being governor of New York — not Mayor, nor a Senator, nor a member of Congress, an attendee told Page Six.

Why: "Going back to doing deals is boring after 18 months. The politics bug bit me," he said.

When: Governor Andrew Cuomo is up for reelection in 2018, but Don Jr. didn't specify when he would run, if he does.

His political platform: As an avid hunter, Don Jr. is pro-guns and has said he would oppose anything that limited the Second Amendment, Page Six reported.

Because so much advertising and content is automatically distributed, the digital supply chain has become confusing and messy, lending itself to more ad fraud, malware, extremist content and fake news. Here's a look at how much more complicated the system has gotten over the past ten years: