Everyone expected the unemployment numbers from last month to go up (it was 9.5% in June) to 9.6%, which is (on the whote) good, since that would mean that unemployment rate is going up at a slower late than previous months.  That would, of course, mean that the recession is slowing down.

Didn't happen.

The unemployment rate went down….. that's the first time it's gone down in 15 months.  In other words, the runaway train didn't just slow down (as analysts had predicted), it actually went in reverse.

AFTERTHOUGHT:  Not that we don't have a long way to go…..