I see the unemployment number out today is being seen by the "inch deep mile wide" press as good news. 

Only good if you ignore how many folks have simply dropped out of the labor market.  If that is taken into account (and it was back in the 70's, until politicians realized they could manufacture a more favorable number by ignoring it) you get the U6 metric, which is a much better measurement of the situation.

It sure feels more like 15% around here.