The government just released the latest US unemployment figures: 345,000 jobs lost in May, bringing the national unemployment rate to 9.4%. Is that good, or bad? Yes.
It's Not So Bad!
NYT: "These are still terrible numbers," said Ian Shepherdson, chief United States economist at High Frequency Economics. "We're a million miles away from a recovery."
WSJ: "When marginally attached and involuntary part-time workers are included, the rate of unemployed or underemployed workers hit 16.4% last month, up from 15.8% in April and almost seven percentage points higher than it was one year ago."
LAT: "The Bureau of Labor Statistics reported that the nationwide unemployment rate now stands at 9.4%, the worst it has been in more than 25 years."
WaPo: "That said, the labor market is far from rosy. Since the beginning of the recession in December 2007, 7 million people have become unemployed, including an additional 787,000 in May alone."