Jobless Claims Rise to 414,000 Last Week… Unexpectedly

The news comes right before Obama’s spending jobs speech.
Reuters reported:

New U.S. jobless claims rose unexpectedly last week, further evidence of a weak labor market just hours before President Barack Obama delivers a major address to Congress on the issue.

Glenn Reynolds added:

I can’t find the link now, but somebody was criticizing this feature a while back as “juvenile.” Well, I am quite deliberately rubbing it in, as the ridiculously inflated expectations for Obama are regularly and repeatedly exposed as… ridiculously inflated. But what’s really juvenile is expecting that an inexperienced former community organizer could successfully execute the office of President of the United States. And if I’m peeing all over the wave of hope-and-change hype that got him into office despite his obvious unsuitability, it’s to help ensure that nothing this disastrous happens again in my lifetime. I realize that it’s painful for those who fell victim to the mass hysteria to constantly be reminded of their foolishness, but I hope it’ll be the kind of pain that results in learning.

Ouch.

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