Reading government economic statistics is like listening to a used car salesman - his lies are usually of omission.
For example, look at today's news on unemployment.
There were more encouraging signs, with the number of people collecting long-term unemployment benefits dropping 98,000 to 5.92 million in the week ended Oct. 10, the latest week for which the data is available.
That was the lowest level since March and it was the first time that continuing claims fell below the 6 million mark since April.
Great news, right? Wrong.
Another day, another 7,000 people run out of unemployment benefits.
The "good news" of dropping unemployment numbers is actually working class people slipping through the safety net.
The House passed a bill extending unemployment insurance by 13 weeks a month ago, but Republicans in the Senate have bogged down their version of the bill.
Of course its not like we are rescuing Wall Street banks, so there is no rush.
She is one of the 1.3 million people set to lose their benefits before year's end if Congress doesn't act, according to the National Employment Law Project, an advocacy group. In October alone, more than 200,000 people will fall off the rolls.
More than one in three people who are unemployed have been out of work for at least six months. In fact, the average period on unemployment is now six months, a new high since records have been kept.
The unemployment exhaustion rate is currently at 52.41% and still climbing.
You can see the trend when you look at the official numbers, if you know how to read them.
For example, if you look at the non-seasonally adjusted numbers, you'll see a drop of 44,913 from state unemployment rolls last week.
But if you scan down to the EUC 2008 numbers (the extended federal unemployment benefits that kick in after state unemployment benefits are exhausted), you'll see an increase of 40,716.
That's all but 4,197 of the unemployed people simply moved from one benefit roll to another.
Well, at a small number of people got new jobs, right? Wrong. You are forgetting the 7,000 people who dropped off of EUC rolls each week. The excess number that isn't being counted is the number of people who have fallen through the safety net.
Are you depressed yet? Then check out this quote buried in a news article that almost got by me.
More than half of 638 chief financial officers surveyed by a Duke University professor, John Graham, said they expected their companies to employ fewer people in 2012 than in 2007.