Bad is good. Up is down. And higher unemployment is now apparently a sign of an improving economy, in Time no less:
The Department of Labor reported August job numbers on Friday, and the numbers appeared to be another bad sign for the recovery. The economy lost 54,000 positions in the last full month of summer. Worse, the unemployment rate rose for the first time in four months to 9.6%, from a rate of 9.5% the month before.
So is this jobs report the latest sign that we are headed for a double dip? Probably not. Actually it’s the opposite. Despite what it looks like, today’s jobs numbers are good news for the economy. Mark Zandi, a closely watched economist, had this to say on CNBC when the job report was announced, "It solidifies the idea the economic recovery is going to remain intact."
The commenters don’t agree though:
And if this scenario played out EXACTLY under a Republican President, administration and Congress, chances this article would be authored: ZERO
Chances that dozens of articles would be written that are severely damning: 100%
You don’t have to be the Amazing Kreskin to have anticipated an article like this from TIME right after the August numbers came out.
So how high does unemployment have to be so that we know the economy is humming along?
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