Job losses slowed dramatically in May, according to the latest government reading on the battered labor market, even as the unemployment rate rose to a 26-year high...
The unemployment rate rose to 9.4% from 8.9% in April.
read the CNN story
My thoughts: Unemployment is significantly higher than the Obama team intentional estimated. It is interesting to watch the media spin the new information in a positive direction. There was a 0.5% increase in unemployment. (anything above 0.2% in significant.) Unemployment just hit a 26 year high. But the headline is "job losses slow dramatically"
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