Another week and another week of Unemployment benefit applications greater than 400,000. According to the Department of Labor, unemployment applications for this week are at 428,000. Thank you President Barack Obama.
The Labor Department says unemployment benefit applications ticked down 1,000 to a seasonally adjusted 428,000.
Applications have topped 400,000 for 12 straight weeks.
Applications had fallen in February to 375,000, a level that signals sustainable job growth. They stayed below 400,000 for seven of nine weeks. But applications then surged to an eight-month high of 478,000 in April and have shown only modest improvement since that time.