The big economic headline today is that national unemployment rose from 8.2% to 8.3% in July. A subhead is that real unemployment remains around 15% in the Obama economy. A subhead to that is that the economy created 163,000 non-farm jobs last month, but 150,000 unemployed workers gave up and quit looking for a job.
That’s a net of just 13,000 jobs. Not a lot of good economic news in that.
Here is a screen shot of Politico’s front page today. Note how they chose to headline the economic news.
Can you say “cocoon?”
Update: Charlie Martin emails to gig me for the math in the stricken sentence above. Fair point.