Skip to comments.Jobless Claims Stuck at Dec ’11 Level, Consumer Confidence Remains Weak
Posted on 08/30/2012 11:25:08 AM PDT by whitedog57
Jobless claims were little changed at 374,000 in the week ended Aug. 25, matching the upwardly revised figure from the prior week, the Labor Department reported today in Washington. The four-week moving average, a less volatile measure, climbed to a six-week high.
In fact, jobless claims are at December 2011 levels, indicating fear of new taxes from Obamacare and the dreaded fiscal cliff.
Continuing jobless claims are stuck at March 2012 levels, not a good sign this far after the end of the recession.
On the other hand, Consumer spending in the U.S. climbed in July for the first time in three months. Purchases increased 0.4 percent after being little changed in June, Commerce Department figures showed today in Washington. But that was less that the median estimate of 0.5%. Incomes climbed 0.3 percent for a third month.
Bloombergs Consumer Comfort Index printed at -47.3, little changed from the prior weeks reading of -47.4.
I wonder which economist said the state of the economy was excellent?
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Well, at least the article did not contain the word “unexpectedly”. Meanwhile, I note the prior week was adjusted upward, that seems to be a trend which remains unabated.
Consumer spending is up. I wonder what it is in inflation adjusted dollars? Just picked up some gasoline at a tad under 4 a gallon here which is close to its all time high.
[paraphrased because I don't listen that well to idiots]
"Well, although the numbers haven't changed, there ARE employers hiring and there ARE people working, so it could just possibly, maybe, hopefully be that things are seeming like possibly they are IMPROVING."
Total government Obama bullshit.
title is incorrect.
All over the map.