Look out below, VI or good news, bad news

Here's the good news:

... the unemployment improved to 4.8% from the 4.9% reading in January.

Here's the bad news:

NEW YORK (CNNMoney.com) -- Employers made their deepest cut in staffing in in almost five years in February, according to a closely watched government report Friday that showed the labor market far weaker than expected, fueling already building recession fears.

There was a net loss of 63,000 jobs, according to the Labor Department, which is the biggest decline since March 2003 and weaker than the revised 22,000 job loss reported for January. Economists surveyed by Briefing.com had forecast a gain of 25,000 jobs in the most recent reading.

Economists had been forecasting job growth of 25,000 jobs and a rise in the unemployment rate to 5.0%.

The world is very, very strange in the Bush Universe. In that universe, unemployment drops when people lose their jobs and rises when they get their jobs back. Of course, the US doesn't use torture either.