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Unempolyment Media Sentiment Index
Updated: March 13, 2009
This index refers to media attention given to unemployment related articles in newspapers published in English worldwide, related to each one of the countries selected in the graphs. Value 100 corresponds to media attention given to unemployment between March and September 2008.
Global media attention to unemployment is reaching a level of 280 points, and shows a steady increase since September 2008. Germany and Japan experienced a more abrupt increase of media attention than in the USA between October and November 2008. Right now, the issue is less present in Germany than in the other countries.
If we look to the case of countries in Europe, we can observe that media attention related to unemployment in Germany is similar to France. These two countries were in better position than England, Spain and Italy at the beginning of the 2008 financial crisis. Spain and Italy reached a peak of 500 points by November. Now the Unemployment Index takes a value of 200 for all countries, except for Spain, presenting an index of 263 points at the beginning of March 2009.
The Economic Crisis Media Sentiment Index
Updated: October 15
Five days after our first presentations of the results concerning the Economic Crisis Media Sentiment Index (measured with a black bullet in the graph), we find that the intensity of economic crisis related articles is still increasing concerning the German and Japanese economy, while is somehow easing concerning UK.
Updated: Oct 10, 2008
The following figure reflects the evolution of the presence economic crisis articles in the press, related to different countries and groups of countries, according to global media printed in english.
We have taken the situation by October 5 2008 as reference value 100. Economic crisis issues in the press were relatively present at the beginning of the period, by April 2008, but this issue almost disappeared by mid-year 2008. The situation has dramatically changed since the beginning of October.
Just in a couple of days, news related to economic crisis are just exploding. This is particularly the case for articles referring to Germany and the European Union, were articles related to the economic crisis have just doubled in less than a week.
This Index will be regularly updated.
Financial or Economic Crisis?
Updated: October 15
In this section we show a complemetary index, to be put in relationship with the Financial and Economic Crisis Media Sentiment. This is the Economic Crisis-Financial Crisis ratio, as perceived by the media. We are convinced that the fundamentals of many countries lead them to a severe economic crisis in the near future and that economic recession or even depression is a probably unavoidable outcome in some countries like Spain or Ireland.
As far as media attention is concentrated in the financial crisis instead of analysing the causes and consequences of the incoming economic crisis, reflexion, public opinion and political concern will be oriented to look for remedies in the financial area. Even if considering that the present situation of risk of systemic collapse of the financial sector asks for urgent measures to dilute the financial crisis, a lot of energy will undoubtely be needed to address the economic crisis, and the lack of adequate media attention to this crucial issue could be harmful for the efectiveness of the eventual reform and structural measures to put into action.
From the figure below we can observe that the economy where the sensitiveness to economic crisis related issues is higher is right now concerning the US economy. We can also obverve that the days of strong financial panic lead to an increase of attention for potential economic crisis, while this fear has softened since then.
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