It's Official: The Weirdness is Not Yet Gone

The stock market is up, but employment is down. And hence, I cannot declare the Weird Economy to be over:

The nation's unemployment rate climbed to 6.1 percent in May, the highest level in nine years, as businesses cut 17,000 jobs in a weak economy struggling toward recovery.

The rate was up one-tenth of a percentage point from April, peaking at a level not seen since the country was emerging from the last recession, the Labor Department reported Friday.

July 1994 was the last time the jobless rate was at 6.1. It was higher only in April 1994, at 6.4 percent.

Source: U.S. Unemployment Rate Climbs in May