Currently, probably.
Usually isolation for me has referred to depression, as I've often had, where I just shut myself away from everyone else and then for some reason feel lonely. I do it to myself, I guess... or likely because I don't feel much reason to get out or socialize.
However, I'm a bit isolated this summer and I'm learning to enjoy it, cognitively, think of it less as "loneliness", and more as "solitude". Doesn't help much that life's at a bit of a standstill. Though I'm somewhat job-seeking (and... failing...), I had just graduated from High School, and next month on to College. So aside from facebook, I've kind of left the group of people from high school (finally!). Until I enter a new group of people in college, for the moment, I'm really with no one.
No obligations with others at the moment is pretty nice.
A paying job for college would also be nice, though...