New Jobless Claims Numbers … 408,000 … Don’t Worry Obama Takes Vacation to Martha’s Vineyard will give Speech when he Returns

If its Thursday, it must be more grim news on the jobs front …

The weekly jobless claims numbers are out and they are terrible. The US Labor Dept says that jobless claims gained 9,000 to  408,000. As reported at CNBC, Jobless Claims Gain 9,000 to 408,000; Consumer Prices Reflect Inflation With Jump of 0.5%; Ex-Food and Energy Up 0.2%.

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending August 13, the advance figure for seasonally adjusted initial claims was 408,000, an increase of 9,000 from the previous week’s revised figure of 399,000. The 4-week moving average was 402,500, a decrease of 3,500 from the previous week’s revised average of 406,000.

The advance seasonally adjusted insured unemployment rate was 2.9 percent for the week ending August 6, unchanged from the prior week’s unrevised rate of 2.9 percent.

The advance number for seasonally adjusted insured unemployment during the week ending August 6 was 3,702,000, an increase of 7,000 from the preceding week’s revised level of 3,695,000. The 4-week moving average was 3,716,000, a decrease of 4,500 from the preceding week’s revised average of 3,720,500.

President Obama shows his seriousness in the jobs number and millions of Americans out of work my going on vacation to Martha’s Vineyard and hobnobbing with those millionaire and billionaires that he talks so much about who should pay high taxes. Any one seeing any hypocrisy here?

Ever wonder why his job approval rating is so low, especially when it comes to the economy? Obama’s complete inability to create a government friendly business environment and his apathy when it comes to out of work Americans might be a good start. Its not that Americans have a lack of confidence in Obama bring back the economy, actually they have a lack of confidence in Obama overall. Imagine the imagery if Obama said he would not take a vacation in solidarity with the millions of Americans who also cannot. Instead he makes the excuse, of well there would be no work done with Congress with the current political environment.  Its about showing you care Mr. President. However, this detached President has had an empathy gap from the out set … Let the peasants eat cake.

Obama just does not seem to care nor does he perceive the crucial nature of the situation or the priority.  When Obama speaks … the economy gets worse. What does that tell you? Obama must go!