Unemployment increased today for the second time in just a few months. In April, the unemployment rate was 8.1%. In May it rose to 8.2%. Last month unemployment rose once again to 8.3%.
Last month also saw a better than predicted increase in jobs numbers, 163,000 new jobs were created. But you have to grade those numbers on one helluva curve to in any way spin it as a good thing. We need at least that many jobs per month just to keep up with the population, and in a real recovery we should at least be gaining 300,000 jobs per month.
Only an abject failure like Obama could make 165,000 sound anything like good news.
This, however, did not stop MSNBC's Morning Joe crew or CNN's Soledad O'Brien from assuring us that we really are at war with Eastasia today.
There was too much going on for me to get the names, but on "Morning Joe," a show that poses as oh-so serious and thoughtful, the roundtable actually discussed how the uptick in the unemployment rate is a GOOD THING because it means people are confident enough to get back in the labor force.
Over at CNN, O'Brien squeaked the jobs numbers and unemployment rate and then laughably shouted SQUIRREL, cutting to a segment about the new "Bourne" movie. Afterwards, she returned to interview a former Clinton official who suggested the unemployment rate going up is, you guessed it, a good thing!
No mention was made of the fact that 155,000 people gave up looking for work in July.
No mention was made of the fact that this is longest stretch of unemployment above 8% since the Great Depression.
No mention was made of the fact that U-6 rate, which measures the underemployed, increased to 15%.
No mention was made of the fact that if our labor force was the same size as it was in '09, the unemployment rate would be 10.6%.