Since Obama’s inauguration the the weekly filings of new unemployment claims has averaged over 500,000 people. New claims represent real job losses as a person cannot claim unless she/he became unemployed. Over 38 weeks since the inauguration this equates to over 19 million jobs lost.
The employment situation is a disaster and continues to get worse. Expect more retail bankruptcies after the holiday season which will result in tens of thousands of additional job losses.
Since Obama’s inauguration the the weekly filings of new unemployment claims has averaged over 500,000 people. New claims represent real job losses as a person cannot claim unless she/he became unemployed. Over 38 weeks since the inauguration this equates to over 19 million jobs lost.
The employment situation is a disaster and continues to get worse. Expect more retail bankruptcies after the holiday season which will result in tens of thousands of additional job losses.
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Plus all the temp jobs that expire after the Holidays - pushing the U6 rate higher.
As you say - DISASTER.