Friday, June 2, 2006

Would It Kill the MSM to Admit the Economy is Great?

God, freaking 4.6% unemployment and all the media can do is scour the technicalities to find something wrong with the data.

So I'll do you all your journalists a favor, I'll give you a quick little lesson in economics.

The economy is at full employment. That means anybody who wants a job, pretty much has one, and those 4.6% are probably not looking hard enough, are in no particular rush to find a job (but have not given up, thus are still in the labor force), or perhaps are of a specialized skill set and the job in that industry are not as liquid in the labor market.

Anyway, here's a pretty little chart to show you where unemployment has been.

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