October 5, 2009

Unemployment Shoots Up, Again

A Jobless Recovery

By SHAMUS COOKE

After the recent unemployment numbers were announced, smug politicians promising economic recovery stuttered a bit. This wasn’t supposed to happen. Mainstream economists were predicting a smooth upswing in employment, but in September 263,000 more jobs were lost, 62,000 more than August.

Obama reacted predictably to the surprise. He first pointed out that “employment is the last thing to recover from a recession,â€