Jobless Claims Up Again!
New claims for jobless benefits increase unexpectedly, while total benefit rolls drop
The Labor Department said Thursday that first-time claims increased by 18,000 in the week ended April 3, to a seasonally adjusted 460,000. That’s worse than economists’ estimates of a drop to 435,000, according to a survey by Thomson Reuters.
Is this unexpected? We have an Administration that is about as anti-business as FDR ever was. (You know how much he wants to be like FDR, the Liberal Zeus.) Obama is about to start a trade war with China, all to help his protectionist Union buddies. Obama just signed into law one of the most prolific tax hikes on business, since the New Deal. He signed into law a Stimulus Package that does everything but stimulate private businesses. And now there is talk of a VAT tax.
There is nothing unexpected about it. In fact, expect unemployment to keep going up!