Once again the “good news” of last week has been revised, and a media dump of the new bad news has been strategically released on a weekend, when fewer people will see it. There is no good news on the jobs front, and I hope the funny math that always comes out before the revised numbers a few days later aren’t fooling the American people. There is no recovery, only an Obama Depression. We can not afford 4 more years of this little boy wonder in office.
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.
Shhhhhh…..have a nice weekend and never mind the continued plummet into a weaker economy.