May 7, 2010

JOBLESS RATE RISES TO 9.9%. UNEXPECTEDLY! But the spin is positive:

Employers added 290,000 jobs in April, the Labor Department said on Friday. It revised figures for February and March to show 121,000 more jobs were added than previously thought. The unemployment rate, however, rose to 9.9 percent as the size of the labor force increased. . . . Analysts polled by Reuters had expected nonfarm payrolls to rise 200,000 last month and the jobless rate to remain unchanged at 9.7 percent.

All the economic news is good, it’s just that unemployment is up. . . . .

UPDATE: Link was bad before. Fixed now. Sorry!

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