Unexpectedly - yeah right

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Just the beginning of the slide - from Breitbart:

Jobless Claims Unexpectedly Climb Despite Reopening
New weekly jobless claims rose to 770,000 for the week that ended March 13, the Department of Labor said Thursday.

Economists surveyed by Econoday had forecast a decline to 700,000. The prior week was initially reported at 712,000 but was revised up to 725,000.

Jobless claims can be volatile week to week so economists like to look at the four-week average. This fell to 746,250, a decline from the upwardly revised average of 762,0000 for the prior week.

Jobless claims—which are a proxy for layoffs—remain at extremely high levels. Prior to the pandemic, the highest level of claims was 695,000 hit in October of 1982. In March of 2009, at the depths of the financial crisis recession, jobless claims peaked at 665,000.

Compare this to 2018 - from the United States Department of Labor (Thursday, July 19, 2018):

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS
In the week ending July 14, the advance figure for seasonally adjusted initial claims was 207,000, a decrease of 8,000 from the previous week's revised level. This is the lowest level for initial claims since December 6, 1969 when it was 202,000. The previous week's level was revised up by 1,000 from 214,000 to 215,000. The 4-week moving average was 220,500, a decrease of 2,750 from the previous week's revised average. The previous week's average was revised up by 250 from 223,000 to 223,250.

The previous record from 52 years ago was set under the administration of Richard Nixon. Conservative presidents are good for jobs. Plain and simple. The Democrats made a crisis out of the Wuhan Flu and used it to hurt our economy to make the Orange Man look bad. If that isn't the act of a petulant little 6-year old child, I do not know what is. We need to get adults back in the room again.  The sooner, the better.

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This page contains a single entry by DaveH published on March 18, 2021 7:47 AM.

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