pollyanna
sastyk | February 5, 2010Every news media I looked at it is trumpeting good news - while unemployment increased in January, we're thrilled that it was only be 20,000 jobs. Because of this, the unemployment rate fell to 9.7% amid, as we learn on CNN "hope the economy will add jobs soon."
What's buried in the middle of the report is the real news - that revisions in employment estimates show that we lost 1.2 million jobs more than the previously estimated 7.2 million. This was higher than predictions, which expected an additional million lost jobs. That means that one in every seven jobs lost since December '07 went…