Thursday, April 12, 2012

Jobless Claims Jump but It May Cause Unemployment to Drop

Economist will try to soften the bad news, but the reality is that economy sucks. Obama's economic policy is destroying America. Numbers can fool the American people, but scrambling to live in a bad economy is the reality we face.

(CNBC) The number of Americans filing for jobless aid rose last week to the highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March.

Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday, defying economists' expectations for a drop to 355,000.

The four-week moving average for new claims, considered a better measure of labor market trends, rose 4,250 to 368,500.

The claims data comes in the wake of Friday's disappointing employment report for March, which showed the economy created 120,000 new jobs, the smallest amount since October.