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Chris Wysocki
Caldwell, NJ
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Hey! I've moved to He's Pretty Fly For A Jersey Guy.
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Thursday, 18 October 2012
Initial unemployment claims spike back up, Obama's "recovery" lasted all of a week
I knew last week's dip in the unemployment rate was all smoke and mirrors. Now there's proof. Initial jobless claims spiked back up to 388,000 this week. Right where they've been for months.
Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors.
The four-week average of applications, a less volatile measure, rose slightly to 365,500, the Labor Department said Thursday. That is a level consistent with modest hiring.
Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008. This week, it reported a significant increase as it processed applications delayed from the previous week.
"Technical factors" == California Democrats distorting their reports to make Dear Leader look good ahead of his anticipated "rebound" in the second presidential debate. Look! A Recovery! My "plan" is working!
No, it's not.
Obama has no plan. Obama has no clue. More of the same won't cut it. Alas, he's out of ideas.
And thus, more Americans are out of work. Again.
Recession: When your neighbor loses his job.
Depression: When you lose your job.
Recovery: When Obama loses his job!
Romney 2012! Because Obama can't print enough Food Stamps for all of America.
UPDATE 19 Oct 2012 08:40:
Linked by Larwyn and Live At Five. Thanks!
Posted at 09:34 by Chris Wysocki
[/economy]
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