Just What Do They Expect, Anyway?

Once again, the numbers are “unexpected”. Once again the “experts” are surprised.

Of what use are “experts” who are wrong almost all of the time? (Except to the Weather Service, of course.)

First time filers for unemployment hit 500,000 last week. A big raise from the (upwardly revised, yet again) numbers from last week. And the “experts” are stunned. Again. For the what, the 300th time?

New U.S. claims for unemployment benefits unexpectedly climbed to a nine-month high last week, yet another setback to the frail economic recovery.

Initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 500,000 in the week ended August 14, the highest since mid-November, the Labor Department said on Thursday.

Analysts polled by Reuters had forecast claims slipping to 476,000 from the previously reported 484,000 the prior week, which was revised up to 488,000 in Thursday’s report.

A Labor Department official said there was nothing unusual in the state level data. The data covered the survey week for the government’s closely watched employment report for August, scheduled for release early next month.

“There are some technical factors out there and the seasonal factors seem to be pushing it up a little bit. But given the trend of claims it looks like the economy ran into a wall in August,” said Chris Rupkey, chief financial economist at Bank of Tokyo-MitsubishI UFJ in New York.

Gotta love that. Nothing unusual in half a million fellow Americans needing to file for their first unemployment checks.

What do the “experts” think? That the job fairy is going to appear and make everything peachy keen? One wave of the magic job wand and unemployment disappears!

They’ve been drinking “Recovery Summer” flavored Kool-Aid from the won’s kitchen?

It’s about time the “experts” entered the real Recovery Summer program. Admitting that Obamanomics is the problem is the first step, folks. Businesses are shedding jobs before ObamaCare kicks in – they have to if they are to survive. (Wait until companies begin shedding medical coverage for retirees – and they will, you can take that to the bank.)

Wait until the full scope of the radical changes Obama and his Democrat enablers kicks in folks. You think it’s bleak now? These are good times compared to what’s coming.

Our one hope is to kick as many of Obama’s enablers to the curb in November as possible. It’s something you can help accomplish. Get involved. Get moving.

Unemploy the right people. Or the left people, actually.

Via Memeorandum.

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3 Responses to Just What Do They Expect, Anyway?

  1. ropelight says:

    The Left refuses to cut spending or to lower taxes. So, the economy continues to deteriorate, right on schedule.

  2. feeblemind says:

    OTOH, new car sales are up 15% from last year, rail car loadings are higher and i believe container volume is at record levels, and the hotel occupancy rate is up to 2008 levels.

    But I think business has co confidence in the future, what with the deficits, tax increases, and new regulations coming down the pike. In my opinion this lack of confidence is holding back employment. If Government had provided a more business friendly environment I believe unemployment would already be ticking down.

  3. Gaius says:

    Laffer thinks that the “growing” economy is actually companies and individuals with the means to do so pulling revenue forward into 2010 to avoid the 2011 tax hikes. If he’s right, the wheels come off in January.

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