So the news is out. The unemployment rate went up to 9.0% and there were over 250,000 jobs created by the private sector. This is good news. Given the slow economic growth of the first quarter and the recent rise in energy prices, there was concern that job creation would have slowed. It did not (at least not yet). Even the rise in the unemployment rate is reassuring in a way. For quite a few months, the government figures showed job growth but not at a rate that ought to bring down the unemployment rate. The numbers gave support to those who claim that the numbers get manipulated for political purposes. Now, the unemployment rate is moving back to a more rational level. Do not misunderstand me. When I say a rational level, I do not mean a favorable one, just one that comes closer to making sense given the size of the workforce and the number of jobs being created.
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