Why yesterday's bad news about jobs is really good news

The media is missing the big story.

I’d planned to take today off from writing but I’m riled up about how the media is characterizing Friday’s jobs report and I have to speak out.

The coverage was almost universally gloomy. The New York Times emphasized “weak” jobs growth and fretted that “hiring challenges that have bedeviled employers all year won’t be quickly resolved,” and “rising wage…