Thursday, July 1, 2010

Jobless claims still increasing

New claims for state unemployment aid unexpectedly rose last week, heightening fears the U.S. economic recovery is stalling.

Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 472,000, the Labor Department said on Thursday.

Analysts polled by Reuters had expected claims to slip to 452,000 from the previously reported 457,000, which was revised slightly up to 459,000 in Thursday's report.

Remember the most important broken promise in years - - if we pass the stimulus bill, unemployment will stay below 8%.

As that South Carolina Congressman yelled, "You lie!"

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