Surprise! Jobless Claims Rise to 500,000 (unemployment, Congress, salaries, statistics)
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New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, government data showed on Thursday, yet another setback to the frail economic recovery.
There's that word again - Unexpected.
Quote:
Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended Aug. 14, the highest since mid-November, the Labor Department said.
Analysts polled by Reuters had forecast claims slipping to 476,000 from the previously reported 484,000 the prior week, which was revised up to 488,000 in Thursday's report.
No not good at all, although manufacturing numbers are slightly more positive, labor numbers continue to fall back I think we can say this is truly a jobless "recovery".
Every lost job is less tax revenue to the federal, state and local governments. They cannot make up that difference by taxing "the rich". They cannot make up that difference by allowing the capital gains and dividend rates to remain where they are. Wake up and don't be a tool for class warefar. This IS serious.
Our national debt stands near $3.4 Trillion with payment of tens of $Billions of dollars to China every month for interest alone. Anyone recall what happened to homeowners who couldn't afford their mortgage principle payments and had 100% loan-to-value interest only loans? Guess what? That is where we are as a nation. Our mortgage is close to foreclosure and there are no jobs to pay the bills.
I wonder what they pay those clowns who can't see what's very obvious to the rest of us.
May as well can them and save the money they would be paying for their salaries.
Serously, this administration and the media are so desperate to keep the average American lulled into complacency, divert panic, bank runs, and social unrest, I think they'll say anything.
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