For reference (I trust this is good historical data and a chart): Non-Farm Payrolls Chart and Historical Data –http://www.tradingeconomics.com/Economics/Non-Farm-Payrolls.aspx?Symbol=USD — The job losses reached their peak in about Oct., 2001 – and then dropped, and continued to drop month after month after month. As in the present, and for the same general reasons, the unemployment rate continued to trickle up.

Just a quick peek at what I would expect was the usual negative presentation in the MSM as the layoffs shrunk – and the unemployment rate continued to rise: a “CNN Money” bit in Dec. 2001 — The headline? “U.S. unemployment jumps” – there’s not going to be much good news to be found with a Bush in the WH.

A few excerpts, as it begins with:

“The U.S. unemployment rate jumped to 5.7 percent in November – the highest in six years – as employers cut hundreds of thousands more jobs in response to the first recession in a decade in the world’s largest economy.”

Oh, the cuts were smaller, but that’s not the message.

“The Labor Department said employers cut 331,000 jobs from non-farm payrolls last month after a revised loss of 468,000 jobs in October. The unemployment rate rose from 5.4 percent…”

Goodness – a drop in the number of jobs cut is even mentioned – but nothing but bad news.

“The combined October-November job cuts are the most since May-June of 1980, and the unemployment rate is at its highest level since August 1995.”

That’s a nice trick – combine two months.. let’s try that today.. ‘the Jan-May (2009) cuts are the most since Adam ate that apple..

“The fact that unemployment is getting worse is not a surprise,” said Anthony Chan, chief economist at Banc One Investment Advisors. “But the fact that it’s deteriorating at this pace is a surprise.”

It’s getting better, but it’s getting worst even faster… Bush was president then, so…