I wonder who are these economists that get polled by the media. Time after time, they expect rosy economic news. Time after time, the bad news is viewed as unexpected! Once again, jobless claims stay above 400,000. Last week 418,000 people filed for unemployment benefits. This is a sign of an anemic and weak job market, not the fictitious Obama Boom the media keeps pushing.
New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, pointing to a labor market that is struggling to regain momentum after job growth faltered in the last two months.
Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 418,000, the Labor Department said.
Economists polled by Reuters had forecast claims rising to 410,000. The prior weeks figure was revised up to 408,000 from the previously reported 405,000.
The Obama Depression continues unabated.
(Hat Tip: Nevergiveup)
Tags: Obama Boom, Obama Depression', Weekly Unemployment Claims
