"It sounds dreadful. After drifting down consistently since last fall, the unemployment rate has suddenly shot up again, from 9.7 percent in March to 9.9 percent in April. But don't despair: A rising unemployment rate is actually one of the best signs yet that the economy is bouncing back."There are now 15.3 million unemployed Americans. Though the number of jobs increased by 295,000, the new line of 805,000 people wanting jobs far surpassed that number. This caused the uptick in unemployment to just under 10%.
But for Rick Newman the majority of those 805,000 unemployed were apparently couch potatoes who decided they might finally like to look for a job:
"Another 610,000 people entered the labor force without being technically unemployed, a sign that first-time workers and other job seekers have decided to get off the couch and start hustling."And the good news is that things are looking rosy enough that these laggards finally decided to look for that cushy job.
Not, of course, that they need a job or the money.
Apparently unemployment is no longer a real problem and no longer causes real misery. Which is a good thing for employees of U.S. News & World Report (as well as other media people) since its circulation revenue dropped 41.9% in just two years from 2007 to 2009.
Rick Newman, and other media spinners, may be putting on a happy face to cheer up the fast growing ranks of their unemployed colleagues.