Weekly Initial Jobless Claims Back Up to 424,000, Week Ending May 21, 2011

Hey Obama … it’s about the JOBS, JOBS, JOBS.

As reported at CNBC, the US economy grew less than expected in first quarter at 1.8%; and the weekly jobless claims came in at an increase, up 10,000 to 424,000.What is Obama doing about the continued poor economic environment in the US, why is is in Europe of course. Let’s see what Obama’s poll numbers look like after continued poor job reports.

From the Department of Labor:

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending May 21, the advance figure for seasonally adjusted initial claims was 424,000, an increase of 10,000 from the previous week’s revised figure of 414,000. The 4-week moving average was 438,500, a decrease of 1,750 from the previous week’s revised average of 440,250.

The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending May 14, a decrease of 0.1 percentage point from the prior week’s unrevised rate of 3.0 percent.