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http://money.cnn.com/2009/08/07/news/economy/jobs_july/index.htm?postversion=2009080708

Two facts in this article:

  • A quarter of a million more people lost there jobs.
  • Less people are trying to find jobs.

Now, there are a lot of ways to look at this information. None of it is really good. However, a convenient byproduct of more people giving up on looking for work vs losing there jobs, is the unemployment rate drops.

So the only thing you could get out of this that looks good on paper, is unemployment drops from 9.5% to 9.4%. 

That's not the story, that's just statistics playing tricks. But, if you read the article, it should like a good thing.

God I hate the media.