Sunday, May 9, 2010
Click Cartoon for Larger Size
Sometimes "good news" doesn't sound much like good news. And such is the case with the latest unemployment figures, which officially rose to 9.9%...but are actually 17.1% according to the government's broader (and more realistic) U-6 measurement standards.
Perversely, the Obama administration is trumpeting this as good news, citing the likelihood that unemployment numbers rose because people who had previously given up all hope have now re-entered the job market...without, of course, finding a job.
In other words, rising unemployment is good because it shows that the jobless now have hope. Misguided, unfulfilled hope, but still...hope! Granted, they'd probably rather have change, but that won't happen until November 2012.
Bonus: From the Hope n' Change Gift Shoppe, expert economic analysis from Inigo Montoya.