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A new report on unemployment tops the news today. The jobless rate has hit 7.2 percent, the highest since January 1993. Looking for a bright spot? Better squint.

"[T]he only possible glimmer of light is that the maximum rate of fall of payrolls is hopefully not far off," writes Ian Shepherdson of High Frequency Economics.

First person to see the bottom, holler out, OK? Meanwhile, Treasury Secretary nominee Timothy F. Geithner is planning an overhaul of the $700 billion bailout. (Bonus: Obama Cites Grim Economy at Start, as Predecessors Have.)

categories: Morning Report

9:06 - January 9, 2009

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