Skip to comments.Jobless Claims Hold Flat; Spending Tops Income Gains
Posted on 08/30/2012 6:05:00 AM PDT by radioone
The number of Americans filing new claims for jobless benefits was unchanged last week, pointing to a labor market that was treading water.
Initial claims for state unemployment benefits were a seasonally adjusted 374,000, the Labor Department said on Thursday. The prior week's figure was revised up to show 2,000 more applications than previously reported.
Jobless claims have risen by 10,000 in August, suggesting some moderation in the pace of job growth this month after payrolls increased 163,000 in July from 64,000 in June.
(Excerpt) Read more at cnbc.com ...
CNBC and AP will be the last cheerleaders for Obama standing. How pathetic to mask this unemployment collapse as anything but a disaster for the middle class in this country!
Actually unemployment is up by 2,000 over the number released last week, but they are trying to soften the blow for Obama by revising last week number up by 2,000 then saying this week was unchanged from last week.
374k jobs lost minus 163k new jobs is a net loss of 111,000 jobs. And this is a “stand still”?
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