More from the Obama economy and they jobless recovery from the failed $787 billion stimulus that the WH touts as a success.
First time unemployment claims benefits rose 19,000 to a seasonally adjusted 479,000 in the week ended July 31, 2010. Welcome to the Obama job recovery and the economy that is supposedly heading in the right direction according to President Barack Hussein Obama. Any wonder why Americans are now putting the blame on Obama for the economy and shifting from GWB? It has become the Obama economy and We the People are tired of the blame game.
New claims for unemployment benefits unexpectedly rose last week, government data showed on Thursday, underscoring a weak labor market and the fragile economic recovery.
Initial claims for state unemployment benefits rose 19,000 to a seasonally adjusted 479,000 in the week ended July 31, the Labor Department said. That was the highest level in claims since early April.
Analysts polled by Reuters had forecast claims dipping to 455,000 from the previously reported 457,000 the prior week, which was revised modestly up to 460,000 in Thursday’s report.
More from Marketwatch …
Altogether, 8.56 million people were collecting some type of unemployment benefit in the week ended July 17. That was up from 8.30 million in the prior week.
Some 8.2 million Americans lost their jobs during the height of the recession in 2008 and 2009 and many remain out of work. The lack of job growth has become a central issue between Democrats and Republicans as the fall congressional elections approach.