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Unemployment Numbers are Still Awful

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Paul Krugman wonders why people are getting excited about the unemployment numbers:

It was truly amazing the way last week’s employment report was hailed
by many people as a sign that our troubles are over. Here we are,
having suffered huge job losses, and needing to make up the lost ground
— and a report showing that we’re still losing jobs, but not as fast,
is grounds for celebration?