Obama has been re-elected as President!!! Yeahhhhhhhhh!! (Sarcasm off)
It looks like I will have AT LEAST 4 more years of PROPAGANDA coming out of the Bureau of Labor
So for my first post of the “New and Improved” Obama Regime let’s start with last weeks report:
“Super storm Sandy drove U.S. weekly jobless claims up to 439,000, while consumer prices rose slightly last month as higher rents and costlier food offset cheaper gas.”
“The Labor Department said Thursday that weekly applications increased by 78,000 mostly because a large number of applications were filed in states damaged by the storm.”
Wow!! Up by 78,000 sounds BAD!! To a total of 439,000!!! Wow, it IS bad!! Just remember that NONE of these new jobless were ignored prior to the election, in order to get the “Official Unemployment Rate” below a magical 8%!!! Nahhh, that would never happen. And also remember, that it is ALL Hurricane Sandy’s fault, because nothing could ever be rightfully blamed on The One or his policies.
What happened this week, you ask?
See, still Hurricane Sandy’s fault. What were the numbers, you ask?
“Initial claims for state unemployment benefits dropped 41,000 to a seasonally adjusted 410,000, the Labor Department said on Wednesday.”
Wow!! Dropped by 41,000!!! That sounds good!! But wait, I love how, NOWHERE in the article do they say what the “estimate” was last week. If this weeks number is 410,000 + 41,000 drop equals 451,000 claims LAST WEEK!!! But last week, they said that the rate ONLY INCREASED BY 78,000 to 439,000, and that sounded BAD. IT WAS WORSE THAN THAT!!! It actually increased by 90,000 claims last week!!! That means that a 41,00 dropped number this week is SMALLER BY 12,000 (and will be EVEN SMALLER NEXT WEEK WHEN THE NUMBER IS REVISED UPWARD AGAIN). So really, the drop this week is only 29,000 (the 12,000 has to be counted somewhere!!).
“The four-week average of applications, a less volatile number, increased to 383,750.”
Anyone want to wager that this number WILL BE GOING UP next week?? And it is already ABOVE the 375,000 level “that some economists think signals a stable unemployment rate”. Which means, that UNEMPLOYMENT RATE IS RISING AGAIN.
Sorry, to be the bearer of the news.
Happy Thanksgiving, be safe!!