Thursday, January 12, 2012

US Jobless Claims Rise Sharply to 6 Week High, YAWN

Jobless claims up for December, and we are still 8.5% unemployment. Instead of getting out of a recession, economists are saying the economy still sucks. It is important for the American people get the real facts. Again, how is it possible that 3.63 million people continue to get claims benefits, up from 3.61 million, and unemployment is 8.5%. This is joke. We are in a recession. The economy sucks. Obama and his Administration are using fuzzy math to make themselves feel better. It is time to make Obama a one term president.
(CNBC) WASHINGTON, Jan 12 (Reuters) - The number of Americans applying for first-time jobless benefits rose last week, a report showed on Thursday, reversing a recent decline and suggesting the labor market remains brittle.
Unemployment claims jumped to 399,000 in the first week of 2012, the highest in six weeks, from an upwardly revised 375,000 in the prior week. The four-week average of claims also marched higher to 381,750 from 374,000.
The Labor Department report also showed 3.63 million continuing claims, up from 3.61 million. Including the millions of workers receiving benefits under emergency federal programs, some 7.3 million Americans were receiving unemployment benefits as of Dec. 24, the most recent date for which comprehensive figures are available.
The U.S. unemployment rate has fallen sharply in recent months and was 8.5 percent December, but some economists worry the drop has been due in part to discouraged workers dropping out of the labor force.

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