"Surprising" Jobless Decline
Posted by Michael Link on May 8, 2008 at 10:12 AM
From CNBC:
The number of US workers filing claims for initial jobless benefits fell more than expected last week, according to a report Thursday that suggested the labor market, while soft, was not deteriorating rapidly.
First-time jobless claims fell to 365,000 in the week ended May 3 from an upwardly revised 383,000 for the prior week, the Labor Department said.
The good news, according to the economist quoted in the article, is that things are bad but not "dramatically" worse.
UPDATE: First version said "jobs" instead of "jobless."
Comments - 4 »
Comments - 4 «
Back during Bush I, they had a way of counting how many folks had simply dropped off the jobless roles, stopped getting benefits, but still hadn't managed to find a job. As much as Bush I hated the statistic, Bush The Lesser not only hates the truth of his destruction of the American job market, he's got plenty of cronies in place in government to help hide the fact.
Regardless, is there any reliable estimate of discouraged workers? It most certainly would be a talking point for the General.
Posted by TheOriginalHillWilliam on May 8, 2008 at 10:28 AM
Sometimes I wonder why Bush so blatening disregards his reputation in the World by those struggling to survive.
The man seems to have no sense of fairness. He appears to know what a terrible mess he has put the middle class and the poor class in but thinks, Oh Well!
Posted by oneforall on May 8, 2008 at 05:15 PM
I have a theory, George W. Bush must have been dropped on his head as an baby. It could explain why Bush is so incredibly stupid. Because he just doesn't get it. He keeps saying the economy is good when there is evidence that it isn't. I mean all I have to do is read "The Blade" every morning and there is least one to two articles in the paper that keep saying companies are going out of business. I swear, it's almost as if he allowed these executives to move jobs out of the country and let these job killing free trade and globalization bs policies go through.
Posted by Darien on May 9, 2008 at 12:39 PM
Bush only seems stupid to people that believe he should care about america as a whole. He does not. To the corporate elite's he has accomplished amazingly every goal they and his crook friends have/had.
Posted by newsjunkie on May 12, 2008 at 12:18 AM
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