The correlation between news coverage and unemployment has been a significant focus in 2020, as the COVID-19 pandemic led to widespread business closures and job losses. A study analyzing the news coverage of job loss in the New York Times (NYT) and the unemployment rates in 2020 revealed some interesting findings.
The study found a significant correlation between the news coverage in NYT and the unemployment rates in 2020. The surge in media coverage of unemployment in NYT coincided with the rise in unemployment rates, highlighting a pattern of negativity bias in economic news reporting. The study also conducted sentiment and emotion analysis of the news articles to understand the public perception of unemployment conveyed by the media.
The sentiment analysis revealed that positive sentiment was significantly higher than negative sentiment throughout the year, contrary to findings in social media studies. The study also found a significant negative correlation between positive and negative sentiments, with three notable turning points in sentiment trajectories coinciding with key events in the pandemic and unemployment timeline.
Emotion analysis showed that the news articles contained all eight emotions included in the NRC emotion lexicon, with “trust” and “anticipation” ranking highest among the positive emotions, and “fear” and “sadness” ranking highest among the negative emotions. The fluctuations in emotions were linked to events such as the pandemic, policy responses, and nationwide protests against racial inequalities.
The study concluded that the public perception of unemployment conveyed by news media in 2020 was shaped by the evolution of the pandemic, policy responses, and protests against racial inequalities. While news media play a crucial role in disseminating information and shaping public perceptions, the study also highlighted the mediated reality of news coverage and the potential influence of political and ideological factors on public opinion.
Overall, the study provides valuable insights into the correlation between news coverage and unemployment in 2020, shedding light on the complex interplay between media representation, public perception, and societal events during a time of crisis.