The Detroit News reports that Nevada has overtaken Michigan as the national champion of high unemployment.

Michigan's "winning streak" was long indeed: It had held the unemployment title since April, 2006.

Nobody really seems to be able to explain why Michigan's unemployment rate dropped so precipitously between April and May, (it fell from 14 percent to 13.6 percent) but one thing seems certain: It has nothing to do with any improvement in the economy. This Economics Minor's best guess: A combination of census jobs, discouragement, and migration lowered Michigan's rate. In other words, some folks landed temp jobs, some stopped looking, and some got the hell out of Dodge City.

But enough about Michigan -- congratulations, Nevada! It's about time you guys were recognized for something other than your gambling, prostitution, and nuclear waste storage facilities.

But seriously...

It doesn't really matter. Actually, we should probably enjoy it while it lasts. 900,000 state and just as many local government workers all across this great land are probably going to lose their jobs before the end of the year. The bottom is going to fall out of the $2+ trillion municipal bond market. Somewhere between four and nine million people's unemployment benefits are going to expire before the end of the year. I mean, seriously, in a couple of years, we might be looking at the period from 2008-2010 as the good old days, economically.

So go get an ice cream cone, tell someone you love them, and enjoy the day.