This morning the government released its weekly report on the number of new unemployment claims filed during the previous week. The number of new claims reported was 382,000. This was higher than the consensus of the experts who were expecting 374,000. It was also high enough to raise the four week average off claims, the number that most economists use. It was the same figure that was reported last week. In addition, the number for last week was revised upwards by 3000 to 385,000. This upward revision is the 53rd time in the last 54 weeks that the previous week's figure was revised; each of these revisions has been up and not down. In summary, the report was not good news; it was just another indication that the economy is not creating jobs at the pace needed to bring down unemployment. The best description of the report is that it is more of the same.
So, here is the question. What do you think was the headline on CNN for this report? If you guessed "Unemployment Claims Fall", you were correct. CNN is so in the tank for Obama that it takes this report and spins it to make it seem like good news. Unbelievable!
1 comment:
Unemployment benefits were intended for a maximum of 26 weeks.
The government extending the benfits for up to 2 years has just created a further extension of dependency on the TAX payers.
If the benefits would be reduced to NO MORE than 26 weeks, those unemployed would actually go back to work.
These extended benefits are creating an increase in the culturtal decline of the U.S..
The best thing that a citizen can do for the U.S. is TAKE A JOB, get off the entitlement bandwagon.
IMHO as always
Post a Comment