AP Gets To Use Its Favorite Word To Describe Jobless Claims As Stocks Freefall

New unemployment claims spiked by 25,000 last week.

WASHINGTON — The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. The big surge was a setback to hopes that layoffs were declining.

The Labor Department says that applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.

The forecast had been for claims to fall by around 4,000 from the previous week. The unexpectedly large rise in new claims underscored that even though the economy is growing, improvements in the labor market are coming in fits and starts.
Meanwhile, the Dow is down almost 300 points.  It’s a damn good thing the Democrats passed that stimulus bill last year, huh?
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5 thoughts on “AP Gets To Use Its Favorite Word To Describe Jobless Claims As Stocks Freefall

  1. “Unexpected”? Are they out of their minds? Obama is a jobs killer and the so called “stimulus “bill was merely a spending bill.

  2. Does anybody remember the halcion days when the MSM was clucking about how the GOP’s opposition to the stimulus and 0bamacare would ultimately cost them at the polls because those policies would be so gosh-darn effective, popular and turn the economy around?

  3. lol,these figures don’t even count all the fresh young unemployed college grads moving into the parental basement.

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