Wednesday, May 12, 2010

Obama comments on unemployment rate going up: "some very encouraging news"

What's wrong with Obama? He must be mentally deranged!
How can he think that an up-tick in joblessness is good news?

Maybe that's what he wants.

"And today, I'm happy to report that we received some very encouraging news... I should also note that the unemployment rate ticked up slightly from 9.7 to 9.9 [percent]."  President Obama, May 7, 2010.

Unemployed More Than 6 Months

Source:  St. Louis Fed/FRED.

Hoven's Index for May 11, 2010

Median length of unemployment:

January 2009:  10.6 weeks

April 2010:  21.6 weeks

May 1983 (highest prior to April 2009):  12.3 weeks

Source:  St. Louis Fed/FRED.


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