So do rising jobless claims and increased unemployment herald the coming prosperity.
So it shall be forevermore, just as I, The Obamassiah, have proclaimed.
Posted on 06/20/2013 8:22:36 AM PDT by SeekAndFind
Initial jobless claims hit 354,000. Consensus was for 340,000, according to Bloomberg.
Last week had declined to 334,000.
The 4-week moving average was 348,250, an increase of 2,500 from the previous week's revised average of 345,750.
Mohamed El-Erian wrote in this space yesterday that for the foreseeable future, prints like this will be watched with greater scrutiny to see if the Fed's sunny economic projections are correct.
(Excerpt) Read more at businessinsider.com ...
UNEXPECTEDLY -- There, I said it first :)
The Obamamedia will spin this as good news.
But no worries... this week, any initial application below 500,000 denotes a “robust economy for job growth.” /s
The unemployment rate will drop significantly as millions are transitioned into “29ers” to avoid Obamacare.
There will be quite a bit of hiring to make up the slack.
Really quite a devious and effective plan.
RE: The Obamamedia will spin this as good news.
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Yep. Look at these headlines today:
LOS ANGELES TIMES:
Initial jobless claims rise, but still show labor market growth
MSNBC:
Jobless claims increase, but remain below threshold
WALL STREET CHEAT SHEET:
Jobless Claims Rise, But No Need to Sound the Alarm
NPR:
http://www.npr.org/blogs/thetwo-way/2013/06/20/193839256/weekly-jobless-claims-rise-slightly
The number of first-time claims for unemployment insurance rose by 18,000 last week, the Employment and Training Administration says. At 354,000, the number remained at a level consistent with modest job growth
CHICAGO TRIBUNE:
While other data on Thursday showed more Americans than expected filed new claims for unemployment benefits last week, the increase was not big enough to signal a material shift from the recent pace of moderate job growth
MARKETWATCH:
The number of people who applied for unemployment benefits last week jumped by 18,000 to 354,000, putting initial claims back near the recent average and indicating little change in a modestly improving labor market.
etc. you get the drift....
So, he can say whatever he wants to the media, but it behooves a debtor nation to sprinkle the dust and he says he will as long as unemployment is above 6.5%
So it shall be forevermore, just as I, The Obamassiah, have proclaimed.
Yep! Journalistic malpractice.
No one is going to hire. If a business has 50 full time equivalent employees, they have to pay obamacare. This also applies if you have 100 employees working 20 hours each.
Thunder, where does it state that 100 employees working 20 hours causes a company to have to provide health insurnce?
Thank you for compiling those stories.. May I copy & paste?
It’s funny. It goes down 4000 and it shows ‘steady improvement”. It goes up 20,000 and it signals “little change in a moderately growing labor market”. Who writes this stuff, the global warming crowd?
RE: Thank you for compiling those stories.. May I copy & paste?
Be my guest...
They have to offer health insurance if there are 50 full time equivelent workers (this would mean 2000 hours per week worked by all employees).
They would have to offer health care at this point.
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