07 May 2010

The Media Presents Great News! Unemployment Is Up!

Listening to the media this morning, you would have thought a jump in the unemployment rate to 9.9% is the best thing that ever happened.

What it really hints at is the deep problem with unemployment. Some, just some, of the unemployed started looking for work this spring, which jacked up the rate despite some modest job growth. How many more are out there who would be working if they could find it? Lots.

Which, despite whatever spin they try to feed you, is not a good thing.

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