Coverage of the economy:
In the last couple of days we've been treated to many reports about the unemployment rate. One striking aspect was how frequently people were being told that unemployment is a lagging indicator and that it doesn't mean much in terms of predicting the future
. That an upturn/recovery could be just around the corner, no matter what U3 or U6 happens to be this month. News outlets were dismissing the unemployment rate figures so much that you began to wonder why they even bothered reporting it at all.