Jobless claims jump unexpectedly to 7-year high

WASHINGTON (AP) — The number of newly laid-off individuals seeking unemployment benefits has jumped to a level not seen since just after the Sept. 11, 2001, terrorist attacks. [What companies were “bailed out” in 2001? None? Is that so.]

The Labor Department on Thursday reported that jobless claims last week increased by 32,000 to a seasonally adjusted 516,000. That nearly matched the 517,000 claims reported seven years ago, and is only the second time since 1992 that claims have topped 500,000. [1992, wasn’t that in the middle of Clinton’s first term? Isn’t Obama working with Clinton’s Economic team].

The increase puts jobless claims at levels similar to the recession of the early 1990s. The four-week average of claims, which smooths out fluctuations, increased to 491,000, the highest in more than 17 years. [Oh, they mean the Clinton Recession! Why don’t they call it that. The Clinton Recession. Things have not been this bad since the Clinton Recession – Then we would know what they mean. By the way what Industry did Clinton Bailout? None! Are you sure? Here I thought it was all “good times” during the Clinton years – that Obama would bring back the Clinton years. Looks like the Democratic Congress beat him to it!].

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