lawrence o donnell: The Obama Wreckovery (Cont'd): New jobless claims rise 'unexpectedly' to 414,000

Kamis, 08 September 2011

The Obama Wreckovery (Cont'd): New jobless claims rise 'unexpectedly' to 414,000

He's almost 3 years in, and the magnitude of the destruction to the economy at his hand is apparent even to his own party.Via memeorandum: New jobless claims rise to 414,000 last week

The number of Americans filing new claims for jobless benefits rose unexpectedly last week, further evidence of a weak labor market just hours before President Barack Obama unveils a plan on job creation in a major address to Congress.

And note the obligatory upward revision:

...Applications for unemployment benefits rose to 414,000 in the week ending September 3 from an upwardly revised 412,000 the prior week, the Labor Department said on Thursday. Wall Street analysts had been looking for a dip to 405,000.

...The four-week moving average of claims, which smooths out volatility, rose to 414,750 from 411,000 the prior week.

Continuing claims eased to 3.72 million from 3.75 million in the week ended August 27, the latest available data. The number of total recipients on benefit rolls was 7.17 million in the August 20 week.

And remember what the true magnitude of the Obama disaster is: Video: 60 Minutes Admits Unemployment is Actually 17% nationally

More from Instapundit, Scared Monkeys, Weasel Zippers, The Lonely Conservative and American Thinker. By the way, anyone notice that the economy flatlined the minute after ObamaCare was signed into law? This is what the initial weekly jobless claims look like since the first week of 2008: