This is exactly the kind of Covering Fire operation we've been seeing in the media. Unemployment ticks up to 9.9%, and it's actually a good thing, because payrolls increased.
Jobs grow by most in 4 years; jobless rate rises 9.9 pct. as people resume searches
Yes, AP...qualify it. See, the rate only increased because more people were looking for work. It's not like the economy is still in bad shape or anything.
We saw this same nonsense with Bush, but in reverse. 5.8% unemployment was actually must higher, because people had stopped looking for work. The fact that average unemployment under Bush was less than the respective averages in the 70s, 80s or 90s was ignored. The recovery was only for the rich!
So, on to some questions.
*When do you think unemployment gets below 8%?
*What will the unemployment rate be in November?
*How will this affect the midterm elections?
I had actually expected unemployment to continue to tick down slowly. My thinking was the economy would be in modest recovery by November, but that this would not be enough to stem the political tsunami the Democrats will face. Now I'm starting to thinking the economy may be stagnating again as we speak. If unemployment is not below 9% in November, 2010 might look a lot like 1994.