More...um...good news? US unemployment has risen to 9.4% but the rate of job losses is slowing considerably. The unemployment number is a big bigger than what was generally expected, but the number of jobs lost was quite a bit smaller than expected at 345,000 jobs lost. So what gives? Once again, the civilian labor force increased by 350,000 over the month and the participation rate increased as well, so there are more people looking for work at the same time jobs are decreasing.
No matter what you think about the state of the economy and what the tea leaves are saying, the employment situation in the US is going to be dismal for a long, long time.
NOTE: Today is the last day to vote on the end of the recession in Oregon.