Posted on 11/20/2008 5:47:34 AM PST by NRG1973
New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year.
The government said new applications for jobless benefits rose to a seasonally adjusted 542,000 from a downwardly revised figure of 515,000 in the previous week. That's much higher than Wall Street economists' expectations of 505,000, according to a survey by Thomson Reuters.
That is also the highest level of claims since July 1992, the department said, when the U.S. economy was coming out of a recession.
The four-week average of claims, which smooths out fluctuations, was even worse: it rose to 506,500, the highest in more than 25 years.
(Excerpt) Read more at news.yahoo.com ...
If we have fair ELECTIONS in 2012 (and you meant January 20, 2013, unless you know something I don't!!)
When you need a friend just pm me. I agree with you....you are a gentleman and a scholar and there are few of us left!
Its a depression. Hope I have enough money to buy enough ammo.
To think educated people bought that line!
That's easy.
Several years ago Bush, Mc Cain, and a number of other Republicans warned that Fanny and Freddie were in desperate need of massive overhaul in order to prevent a collapse in the mortgage market that could lead to even more problems with the entire financial system. That's when the Republican leadership drew up sweeping changes that would have made a big difference for the better.
This was a big mistake, because housing prices had not yet reached their peak and Republican warnings only served to antagonize Democrats that skillfully pandered to voter greed, and we all know what happened when the people's voice sent out a clear message with the 2006 and 2008 elections.
So all good news under GW was “unexpected,” and now all bad news since The One hs been elected is “unexpected.” Nah, there’s no media bias...
That must be back when the Republicans were rendered powerless by controlling the Presidency, the Senate and the House.
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