It's good to hear that only 1% more of the US workforce got laid off last month. Apparently, not sucking as badly at the month before means that we are in recovery. At any rate, that is the spin that the politicians are putting on this.
If a guy is bleeding to death on the recovery table, and he has already lost a huge quantity of blood, and the bleeding rate slows to 1 liter per minute from 3 liters per minute, this is still not cause for rejoicing. The guy is going to die very soon unless the bleeding STOPS.
That is the situation for these economic numbers. Losing over half a million jobs in a month is horrendously bad. If you had thought is was going to be 620,000 jobs lost instead, you still don't have cause for rejoicing. Something really awful is going on.
Keep this in mind if you see anyone smiling too much and saying "What we are doing is working!" No, the panic button should still be firmly pushed down.
