Hey America, how’s that Obama “hopey, changey” stuff working out for you?
Welcome to the President Barack Hussein Obama job recovery of 2010. First time claims for unemployment aid rose by 13,000 to a seasonally adjusted 462,000. But wait, the Obama economy gets even worse … September home foreclosures top 100,000 for first time. According to RealtyTrac, banks foreclosed on 102,134 properties in September, the first single month above the century mark. I supposed this is George W. Bush’s fault?
Will this also by an Obama “Oops” as he did not realize that his disastrous economic policies of wasted stimulus money and no “shovel ready” jobs would cause sustained unemployment, further job loss and people to lose their homes?
Applications for jobless benefits rose last week for the first time in three weeks, evidence that companies are reluctant to hire in a slow economy.
The Labor Department said Thursday that initial claims for unemployment aid rose by 13,000 to a seasonally adjusted 462,000. It was only the second rise in two months.
In addition, cash-strapped state and local governments are cutting jobs, adding to the ranks of those out of work.
The four-week average of claims, a less volatile measure, rose by 2,250 to 459,000.