Forget the fact that the unemployment rate increased to 9.9%, the real news is the pretty stunning 290,000 news jobs number. This is a sure sign that the recovery is gaining strong momentum and that momentum is finally hitting the jobs picture. The unemployment rate increase is due to the many discouraged workers who have decided it is worth looking for work again. The is no two ways about it, this is great economic news...finally.
Now that I have said that, it is going to take many many strong months to get us back to where we started before the recession hit so we still have a long, long way to go.
Now let's hope that the national picture will translate to Oregon when we get our own numbers in a couple of weeks.