Jobless claims push off five-year lows last week [View all]

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Source: Reuters (via Yahoo)

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits bounced off five-year lows last week, pulling them back to levels consistent with modest job growth.

Initial claims for state unemployment benefits increased 38,000 to a seasonally adjusted 368,000, the Labor Department said on Thursday. The prior week's claims figure was unrevised.

Economists polled by Reuters had expected claims to increase to 350,000.





Read more: http://finance.yahoo.com/news/jobless-claims-push-off-five-133118083.html

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Let's be clear here. The number of Americans claiming first-time UE benefits last week jumped 10% (from 330,000 to 368,000). Combined with the news yesterday that GDP shrank 0.1% in the fourth quarter of 2012, the news again underlines that under Rape-publi-scum leadership, the economy is in a dead-cat bounce.

See also: http://www.democraticunderground.com/1014384951

Time for Obama to start campaigning for 2014 mid-terms NOW. Campaigning against the Do-Nothing Congress. Time for the Dem Party to look to mount strong competitors in EVERY House district.

ETA: First paragraph is one of the worst I've read in a long time. When first-time UE claims climb 10% in a single week, that does NOT point to 'modest job growth'. For fuck's sake. That Yahoo editor should be fired.