Initial jobless claims last week were 427,000. That is not good. It is the seventh week in a row above 400,000, which is the figure often used as the maximum which will allow for significant job growth in the economy. In other words, these figures show that the economy is still in neutral at best. The media seems to have given up telling us that these weekly figures jump all over the place, so the number is not that significant. It is hard to argue with seven weeks in a row. the trend is clear and it is not good. It is time for Obama to come forward with an actual plan to resotre growth and cut unemployment. We have been all waiting to hear the plan for quite some time. Hopefully, he can fit in time to come up with something in between the golf games.
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