Here’s more proof that Obamanomics is bad for the economy. According to the Department of Labor:
In the week ending September 15, the advance figure for
seasonally adjusted initial claims was 382,000, a decrease of 3,000 from the previous week’s revised figure of 385,000. The 4-week moving average
was 377,750, an increase of 2,000 from the previous week’s revised average of 375,750.
The consensus however was that this weeks Jobless claims would fall to 375K, today’s disappointing 382K number was higher than expected.
According to CNBC:
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Employers added 96,000 jobs last month, a step down from July’s 141,000 count. While the unemployment rate dropped to 8.1 percent in August from 8.3 percent, it was because many Americans gave up the search for work.
Lackluster labor market conditions prompted the Federal Reserve last week to launch an aggressive stimulus program, with the U.S. central bank buying an additional $40 billion worth of mortgage backed securities each month until it sees a sustained upturn on the jobs front.The unemployment rate has been stuck above 8 percent for more than three years, the first time this has happened since the Great Depression.
It’s astounding that anyone could look at these numbers and support the reelection of Obama!