11,000 Jobs Created!
Give the man credit: a standing room crowd at a Toledo Mud Hens game just got hired.
New claims for unemployment benefits slipped last week, but stayed at a stubbornly high level that underscored the labor market recovery was having trouble gaining traction.
Initial claims for state unemployment aid dropped 11,000 to 457,000, the Labor Department said on Thursday, a touch more than the fall to 459,000 that financial markets had forecast.
“Stubborn”? Like the economy has a bad attitude, or something? Can’t disagree. If you were so abused and mistreated, lied about and misrepresented, blamed and scapegoated, you’d have a bad attitude, too.
“With claims (for jobless aid) at these levels the 200,000-plus increases in private payrolls that we need to see in order to bring unemployment down quickly just aren’t going to happen any time soon,” said Ian Shepherdson, chief U.S. economist at High Frequency Economics in Valhalla, New York.
With unemployment high, consumer spending has been tepid and home foreclosures have remained elevated.
Foreclosures rose in three of every four large U.S. metropolitan areas in the first half of this year, likely ruling out sustained home price gains until 2013, real estate data company RealtyTrac said on Thursday.
Unemployment was the main culprit driving foreclosure actions on more than 1.6 million properties, the company said.
In the week ended July 17, 4.57 million people were still receiving jobless benefits after an initial week of aid, up 81,000 from the prior week.
Uh-oh. So, while those Mud Hens fans were getting jobs, a sell-out crowd at Notre Dame Stadium was added to the long-term dole. That’s one step forward, one long-jump back.
Are they stubborn, too? Stubborn and racist?
judi said,
July 29, 2010 @ 5:58 pm
let me tell you about stubborn, in an unexpected turn of events my magic wand is having trouble gaining traction making unicorns appear.
Buck O'Fama said,
July 29, 2010 @ 8:37 pm
““Stubborn”? Like the economy has a bad attitude, or something?”
Yes! The whole economy is RAAAAACIST!