Friday, May 7, 2010

A Good Jobs Number -- No Doubt About It

Today's employment number is good news, not bad news. The private sector has shown its first serious sign of recovery on the jobs front.

The unemployment rate moved higher to 9.9 percent, mainly because more than 800,000 people entered or rejoined the work force.

To keep this in perspective, we need a couple of dozen months like this to move the unemployment rate back into the territory that healthy economies exhibit.

We're a long way from that. But, this is good news.