SHOOT: This headline is taking 'looking on the bright side' to the extreme. Like someone breaking up with you and you go, "Well, when she said 'you know I don't hate you' I realised she must still love me." Er, no. Sometimes you have to accept the truth, and sometimes the truth hurts. And the truth is this is going to be a protracted, painful and permanent contraction. Why because economies need energy to run, and energy has gone over the peak. There may be blips on the downward track, but waiting in the hope that these blips are going to represent anything like a sustained recovery is holding onto a false hope. Let's instead invest ourselves in actions. Go out and plant a vegetable garden. But don't sit around wishing and hoping.
WASHINGTON (AP) -- Employers throttled back on layoffs in May and cut the fewest jobs in any month since the financial crisis erupted last fall -- raising the brightest hope yet that an economic recovery will take hold later this year.
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