Good News!  On Friday the government released the latest unemployment numbers and they showed a drop in the unemployment rate from 9.8 percent to 9.4 percent as employment increased by 103,000.

Well a least President Obama thought the number were good enough to tout them as another sign of economic recovery. 

But what he and other liberals left out of the conversation was the fact that the number dropped largely because 389,000  more people were classified as discouraged workers from the month before thereby reducing pressure on the top line number. 

The reality is that job growth remains anemic and that we need to create at least 125,000 jobs per month just to absorb workers coming into the market.  With 14.5 million people officially listed as unemployed it would take five years at a rate of 250,000 jobs added each month just to bring unemployment levels back to historical levels.  That’s more than double the current rate of job growth and not a figure likely to be reached anytime soon.

Good economic news has been hard to come by for Obama since he took office nearly two years ago so he can be forgiven slightly for wanting to latch onto something that on the surface appears to show progress but the fact remains that the economy is still far from a real recovery and that doesn’t portend well for the president as we move closer to the 2012 elections.

But for Obama hope springs eternal. 

d and certainly doesn’t offer much hope in the immediate future.