Jobless claims stopped their record-breaking, fearsome, FOUR-WEEK job-creation rampage today as the BLS reported that initial claim rose- again- by more than economists expected.
“First-time jobless claims rose by 16,000 to 357,000 in the week ended March 23,” reports Reuters, “the highest level in more than a month, Labor Department data showed today in Washington. The median forecast of 48 economists surveyed by Bloomberg called for an increase to 340,000. The four-week average climbed from the lowest level in five years.”
Economists, says Reuters, were expecting claims to come in between 330,000 at the low end and 355,000 at the high end.
“We’re not making progress the way we’d like to,” said Robert Brusca, president of Fact & Opinion Economics in New York, who projected claims would climb to 350,000. “It’s still a very disappointing picture for jobs.”
Disappointing for people too.
But not so bad for Obama, who is making a pitch today that we should…ban guns? Oh, wait…no this week it’s…the boondoggle on a study related to snail sex. No? Oh, yes…it’s gay marriage. Or wait, how about this one: an Easter egg roll that avoids using Jesus’ name or any talk of religion.
Never fear: I think they’ll make up for it later with a Socratic seminar on “Jesus Stompin’.”
But who really cares? The recovery just keeps getting better and better, for people who live in DC.
Outside the Beltway, it’s a bit tougher.
Despite all the “great news” manufactured by the media about how “great” the economy is, average people aren’t so sure.
“The Conference Board, a private research group, said its index of consumer confidence declined about 8 points to 59.7 in March from a revised 68.0 in February,” reports theWall Street Journal, “the first reported as 69.6. Economists surveyed by Dow Jones Newswires had expected the index to fall, but only to 67.1.”
What the heck is wrong with these people?
Don’t they know we are in the greatest economic recovery in the history of the universe brought to us by the record-setting healthcare premiums charged by insurance companies as a result of Obamacare?
Obamacare: Driving Up Unemployment and Insurance Costs Since 2010Ô
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