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January 31, 2013

Obamanomics Update: Weekly Jobless Claims Rise 'More Than Expected'

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Yesterday we learned that the U.S. economy posted a 'stunning' (unexpected) drop of 0.1 percent in the fourth quarter of 2012. Today we learn that initial claims for state unemployment benefits increased 38,000 to a seasonally adjusted 368,000:

The number of people who filed new applications for U.S. unemployment benefits climbed 38,000 to a seasonally adjusted 368,000 in the week ended Jan. 26, putting them at a one-month high, according to Labor Department data released Thursday. Economists surveyed by MarketWatch expected claims to climb to 355,000. Initial claims have returned to a level that prevailed through the later stages of 2012 after touching a five-year low earlier this month.
With Obamacare kicking in more each day, Obamanomics in play for another four years, and Obama adding thousands of new regulations to U.S. business in 2013, with many of them extremely costly, seems to me the norm is going to be that the "unexpected" of liberal economists is likely to soon become the 'expected.'

Meanwhile, Barack Obama is laying off his own jobs council ... the one that met with less than a handful of times, as twelve million people remain unemployed in the country and the unemployment rate is 7.8 percent.

Posted by Hyscience at January 31, 2013 9:21 AM



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