Good news everyone: Jobless claims on a weekly basis fell to a five-year low according to the Labor Department.
Bad news everyone: Yet still more people remain jobless.
And why is that? Because Obama doesn’t care about jobs.
When you reckon out the newest jobless figures using the Obama’s best calculus, the weekly decline doesn’t mean that fewer people are unemployed.
That would be asking way too much from an administration that seems phobic about private-sector job creation.
“Applications for jobless benefits decreased by 37,000 to 335,000 in the week ended Jan. 12, the lowest level since the period ended Jan. 19, 2008, Labor Department figures showed today,” reports Bloomberg. “Economists forecast 369,000 claims, according to the median estimate in a Bloomberg survey. A spokesman for the agency said the drop may reflect the difficulty the government has in adjusting the data after the holidays when seasonal workers are let go.” [Ransom’s emphasis]
See?
And I bet you wanted jobless figure to reflect actual joblessness.
Ha! Fat chance.
You obviously know nothing about good government.
(Excerpt) Read more at finance.townhall.com ...
