Barack Obama, ITS ABOUT THE JOBS STUPID!!!
New jobless claims rose again this week to 496,000!!! That’s up 22,000 from last week. Didn’t President Barack Obama say that his presidency in year two was goiung to be all about jobs and putting people back to work?
Then why is he still wasting every ones time with health care legislation that has been roundly rejected by the American people? Is this President serious or not about the unemployment rate in the US and creating an economic environmnet that will get people back to work and have businesses start hiring?
The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise.
In addition, many state agencies in the mid-Atlantic and New England regions that process the claims were closed due to the storms and are now clearing out backlogs, a Labor Department analyst said.
The department said Thursday that first-time claims for unemployment insurance rose by 22,000 to a seasonally adjusted 496,000. Wall Street analysts polled by Thomson Reuters expected a drop to 455,000.
Bad weather can cause job losses in construction and other industries sensitive to weather.
Economists closely watch initial claims, which are considered a gauge of the pace of layoffs and an indication of companies’ willingness to hire new workers.
The four-week average, which smooths volatility, rose by 6,000 to 473,750.