On the heals of the monumental incompetence of the post UBL glow comes yet another sign that the Empty Suit doesn't know what the hell he's doing.
These guys keep pounding away on the nmber of jobs they claim they've created... yet month after month, even the faux number they claim is overshadowed by the number of first time unemployment claims.
We're stuck with an administration that seems to be incapable of telling the truth at any level. They've seemingly put together an endless number of stories about what happened in Pakistan.
Competence is a very big deal, paraphrasing Joe Biden, a big f*^%ing deal. And if you lack that basic tenet and ability... then how can you build anything else?
We don't realisticaly expect perfection from our leaders. But few have worked so hard to screw it up as the Keystone Cops adminstration we're stuck with.
They build up our hopes by taking the ocassional decent job figures and solemnly telling us that "recovery is here."
But it isn't. And I am so sick of the lies.
Jobless claims hit 8-month high
A woman browses job openings at a job fair in Los Angeles, October 12, 2010. REUTERS/Lucy Nicholson
On Thursday May 5, 2011, 11:00 am
WASHINGTON (Reuters) - The number of Americans filing for jobless aid rose to an eight-month high last week and productivity growth slowed in the first quarter, clouding the outlook for an economy that is struggling to gain speed.
While the surprise jump in initial claims for unemployment benefits was attributed to factors ranging from spring break layoffs to the introduction of an emergency benefits program, economists said it corroborated reports this week indicating a loss of momentum in job creation.
New claims for state jobless benefits rose 43,000 to a seasonally adjusted 474,000, the highest since mid-August, the Labor Department said on Thursday. Economists had expected claims to fall to 410,000.
A second report from the department showed nonfarm productivity increased at a 1.6 percent annual rate, braking from a 2.9 percent pace in the fourth quarter. The growth pace was above economists' expectations for 1 percent.
"We do not think that the entire rise in claims over the last month can be explained by special factors alone," said Harm Bandholz, chief U.S. economist at UniCredit Research in New York. "It seems instead as if the improvement in the labor market slowed a bit."
Reports this week showed weaker employment growth in the manufacturing and services sectors in April. Data from payrolls processing firm ADP Employer Services also showed a step back in private hiring last month.
The claims data falls outside the survey period for the government's closely watched employment report for April, which will be released on Friday. Nonfarm payrolls increased 186,000 last month, according to a Reuters survey, after rising by 216,000 in March -- which was the most in 10 months.
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