Despite Barack Obama’s assurances that “the economy is strengthening” and protests that Americans should be happy with the shoddy economy because unemployment “could be 15%” right now, the Obama led economy “unexpectedly” shed 13,000 jobs last week. Initial jobless claims rose to 472,000.
What do you expect him to do, suck up the unemployed with a straw?
The Labor Department said Thursday that new claims for jobless benefits jumped by 13,000 to a seasonally adjusted 472,000. Analysts expected a small drop, according to a survey by Thomson Reuters.
The four-week average, which smoothes fluctuations, rose by 3,250 to 466,500, its highest level since March.
It was the second time in three weeks that the number of initial claims rose. The government will release the Unemployment Rate tomorrow morning.
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