Welcome Back, Economic Disaster!

The number of long-term unemployed (those jobless for 27 weeks and over) rose from 5.1
to 5.4 million in May.

— James Pethokoukis (@JimPethokoukis) June 1, 2012

The image being used on Business Insider to describe today’s jobs numbers is of stuff blowing up. “The yield on the benchmark on the 10-year Treasury note plunged to 1.46 percent, the lowest on record.” The U-6 (total unemployed, plus marginally attached, plus people forced into part-time work, as percent of labor force) is down from a year ago but up from last month, just under 15%. But here’s the long view on jobs; here’s the long view on job loss and growth.