More Jobless Claims: Obama Administration & Press [But That's Redundant] Flummoxed By “Unexpected” Economic News

Okay, I might have made up that last part. It’s true, though, the jobless claims have gone up again. My prediction? They’ll continue to go up for a while, unfortunately. If gas prices inflate (and they will), costs to employers inflate across the board. Makes it tough to hire more people.

Here’s the deal:

In the week ending April 10, the advance figure for seasonally adjusted initial claims was 484,000, an increase of 24,000 from the previous week’s unrevised figure of 460,000. The 4-week moving average was 457,750, an increase of 7,500 from the previous week’s unrevised average of 450,250.

Also, as Ed Morrissey points out, the government is still hiring thousands of temporary workers so that means that the private sector is losing significantly more jobs–thousands of them.

If the Democrats succeed in enacting more of their policies, permanent joblessness will be the American way.

Thanks, President Obama!

Posted in America • Barack Obama • Democrats • Economy • Show Me The Money
Tags: Business • Employment • Government • Jobless claims • Moving average • Private sector • Unemployment • United States