The Obama Wreckovery: "Stubborn" Jobless Claims Still Keep On Climbing Higher

The establishment MSM continues to call the high jobless rate "stubborn" implying that something else is fighting the Obama policies and that it's not his fault. In fact, it is. 2 1/2 years after he pushed through the stimulus boondoggle after promising it would create 3.5 million NEW jobs and keep the unemployment under 8%, the unemployment rates continues to be above 9% (National Unemployment Rate At 9% More Than 2 Years After Obama Promised It Would Never Go Above 8%; Labor Participation Rate Still At All-Time Low) and 3 million jobs have been lost rather than gained. Welcome to the Obama wreckovery. Via memeorandum: Stubborn Jobless Claims Still Keep On Climbing Higher

The predictable result of liberal policies

New U.S. claims for unemployment benefits unexpectedly climbed to 424,000 last week from a revised 414,000 in the prior week, pointing to a painfully slow improvement in the nation's job markets.

The Labor Department on Thursday revised the prior week's claims number up from an originally reported 409,000.

Economists surveyed by Reuters had forecast that claims last week would decline to 400,000, rather than rise.

The four-week moving average of unemployment claims, considered a better measure of trends since it smoothes out weekly variations, eased slightly to 438,500 from a revised 440,250.

Last week marked the seventh straight week in which claims topped the 400,000 level...

And from al Reuters: Corporate profits fall, jobless claims up. And Bloomberg: U.S. Jobless Claims Unexpectedly Climbed Last Week. After 2 1/2 years of economic disaster, how do they expect anything else?

UPDATE: Via drudge:

• Sale of seized homes at 28% -- 6 X normal...
• UPDATE: GDP 1.8%...

Posted in: US