How will the liberal media spin this? Last week’s jobless claims were revised DOWN (as has been the case since Obama’s election) from 385,000 to 382,000. The economy is stagnant. The labor force is disappearing. Unemployment has been above 8% for the entire Obama presidency but the media is focused on Romney’s factual comment above 47% paying no federal taxes. This rate is bound to skyrocket if Obama is reelected.
More Americans than forecast filed applications for unemployment benefits last week, adding to concern the labor market is slackening.
That’s because the labor force participation rate is at a 31-year low under Obamanomics.
Jobless claims decreased by 3,000 in the week ended Sept. 15 to 382,000, Labor Department figures showed today inWashington. The median forecast of 49 economists surveyed by Bloomberg projected 375,000.
Looming tax increases and government spending cuts slated to take effect next year, should lawmakers fail to act, may block any pickup in hiring following last month’s smaller-than-projected gain in payrolls. The Federal Reserve last week undertook a third round of asset purchases in a bid to reduce joblessness that has held above 8 percent for more than three years.
Those first two rounds of printing money to prop up Obama’s economy and hire people worked so great the Federal Reserve had to use a third round of printing money to keep unemployment high and the economy stagnant. Audit The Fed!!!!!
“The problems are more on the hiring side than the layoffs side,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, who projected a rise to 385,000 claims. “If they panic and start cutting workers, that would raise an immediate red flag because layoffs would be a recipe for another recession.”