Monday, August 10, 2009
The mainstream media portrays the dip in unemployment figures as proof that the recession is over and the economy is recovering.
Buy many alternative news sites have said that the dip in unemployment figures was due to a fluke of some kind or another.
Some say it is because auto workers who would normally be laid off this time of year have been retained because of changes to the auto industry from the auto bailouts.
Others say that more people are giving up looking for work, and so the U-3 unemployment figures (but not U-6) are down.
Now, even Krugman says:
That slight dip in the measured unemployment rate last month was probably a statistical fluke.