Posted on 06/10/2010 5:48:47 AM PDT by blam
Initial Jobless Claims Still Way Too High And Stagnant At 456,000
Joe Weisenthal
Jun. 10, 2010, 8:30 AM
Another disappointing weekly report.
Initial jobless claims came in at 456,000, which was worse than what economists were looking for (at 448K), and more importantly initial claims are still stagnant, moored right around this 450K number.
For awhile the markets were ignoring this stagnation, but with last week's bad jobs report, suddenly it's back in focus.
[snip]
(Excerpt) Read more at businessinsider.com ...
Unexpected.
0bama’s war on capitalism and profits is working.
Well, the “markets” (more like the media & WH) may have ignored the jobs issue, but the people have had it front-and-center for nearly 2 years.
Now you’ve got the picture!
After the election, many of my fellow small businessmen prepared for this catastrophy. We trimmed staff and efficiency is the code word.
Many of the lay offs were from knowledge from history of what happens when you elect a socialist. (And he wants to blame President Bush! Ha! At least when Bush was in office, we were comfortable enough to hire. Not now!)
The spin the AP put on it was nauseating. They said the number of people receiving benefits dropped, which may indicate that they went back to work. It more likely means their benefits ran out. The article I saw didn’t touch on that possibility.
The AP is actually stupid enough to believe they can spin us to a jobs rebound.
Obama administration need a better crystal ball.
The last report the MSM were expecting 500,000+ jobs created. That did not happen and it made BO look bad.
Now, the word is that we’re going to loose 200,000 jobs this month, during the ‘Recovery’!!??!!
That’s weird... here’s AP’s spin.
NEW YORK — U.S. stock futures edged up on Thursday after weekly jobless claims slipped slightly in the first week of June and continuing claims fell to the lowest level in 18 months, adding to relief that a global recovery may still be possible.
The Labor Department said Thursday that initial claims for jobless benefits fell by 3,000 to 456,000 the week ended June 5, in line with the expectations of economists polled by Dow Jones Newswires. However, the previous week’s level was revised upward, to 459,000 from 453,000.
I expect we’ll hear unexpected all day............
You should yell this from the rooftops, again and again!
How many of those people who stopped drawing unemployment, started drawing wages as a temporary Census worker??
Who are these people?
Oboma is still spending - "big time." He's been so busy partying and playing sports, he doesn't have time to worry about over his head presidential stuff like the U.S. economy.
It's pretty cool how they do that, isnt it?
Magic with numbers!
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