Thursday, May 20, 2010

Initial jobless claims up again

As soon as I woke up to all the administration apologists saying, "Increased unemployment is an early sign of economic recovery!", I knew there was bad employment news, and it had been spun and leaked in advance to administration allies.

So this is no surprise:
[T]his week, the Labor Department's unemployment claims report reflected more stops than starts: Initial jobless claims unexpectedly jumped 25,000 to 471,000 last week, with the four-week moving average also inching 3,000 higher to 453,500.

In other words:
The jobless rate actually increased in April to 9.9%.

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