The New Yorker is thrilled:
This is the best piece of economic news that President Obama has received in many a moon.
On CNBC’s Squawk Box, a former chairman of the White House Council of Economic Advisers said, “The trend I am seeing … is that things have turned around.” And he went on: “People don’t feel good about the economy until the labor market turns around. And the labor market has been lousy for a long time. I am pretty hopeful.”
No, those weren’t the words of Austan Goolsbee, Obama’s former chief economic advisor. (He was on the show too, and, as you might expect, he was pretty chipper.) The upbeat comments came from Ed Lazear, the Stanford professor who headed the Council of Economic Advisors from 2006 to 2009 under President George W. Bush.
In his analysis, tough-minded John Cassidy points out that the fall below 9% is probably not a statistical aberation, and is not simply a case of a rise in discouraged workers.
Well, let's hope he's right — the numbers do look pretty good on a graph.
Don't they, though?
Kit Stolz 
This is really good news for employment will bring progress to one nation. Thank you for sharing.
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