Data points to some improvement in economy

[TomCADem]

Source: Reuters

WASHINGTON (Reuters) – New claims for unemployment benefits fell last week, while housing starts and permits for future construction rose in May, signs that offered some hope the economy could soon pull out of its soft patch.

Initial claims for state unemployment insurance slipped 16,000 to 414,000, the Labor Department said on Thursday, suggesting the jobs market was regaining some momentum after stumbling in May.

A separate report from the Commerce Department showed housing starts rose 3.5 percent to a seasonally adjusted annual rate of 560,000 units, retracing almost half of April's steep decline.

New building permits unexpectedly rebounded 8.7 percent to a 612,000-unit pace last month, the highest level since December.


Read more: http://news.yahoo.com/s/nm/20110616/ts_nm/us_usa_economy_3

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I know this runs against the corporate media narrative that we need to cut spending to improve the economy, and that the stimulus did not help save jobs or that we should not have additional stimulus spending.

Instead, lets keep on letting Mitch McConnell claim without any challenge that taxing the rich or oil companies kills jobs while actually firing people due to cuts in spending has no impact on unemployment.

[DBoon]

1. The stimulus did work

it was not enough.

We need more of it.

[buckrogers1965]

2. This time don't give it to the mega corps.

Give it to normal Americans to start small businesses.

[eridani]

3. Yes, and we need it to be structured more usefully n/t

[Javaman]

5. The time for more stimulus as passed...

Obama missed the opportunity to inject more into the economy.

Now congress is in a stupid fight of entropy.

the party of NO now controls the house. do you honestly believe they will allow more stimulus money? When they know perfectly well it would help the economy?

This countries elected reps do not listen to the people anymore. What we are witnessing is the political grudge match of the stupids. The house is falling around them and they are arguing over whether or not to buy a new couch.

morons.

[Pale Blue Dot]

4. This is idiotic data mining.

There have been a sea of negative reports, including several yesterday. This article merely points out 2 that were bad, but were slightly less bad than they were expected to be.