The pie in the sky from Bambi Teleprompter:
We had to take some tough steps to pull the country out of the freefall we faced when I took office. Back then, the economy was shrinking faster than it had in decades. Today, it’s growing again. Back then, we were losing an average of 750,000 jobs a month. Today, we’ve added private sector jobs for five months in a row.
So now the economy is headed in the right direction.
The Goodyear meets the asphalt reality of the situation on the ground:
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending June 26, the advance figure for seasonally adjusted initial claims was 472,000, an increase of 13,000 from the previous week’s revised figure of 459,000. The 4-week moving average was 466,500, an increase of 3,250 from the previous week’s revised average of 463,250.
The advance seasonally adjusted insured unemployment rate was 3.6 percent for the week ending June 19, unchanged from the prior week’s revised rate of 3.6 percent.
The advance number for seasonally adjusted insured unemployment during the week ending June 19 was 4,616,000, an increase of 43,000 from the preceding week’s revised level of 4,573,000. The 4-week moving average was 4,567,500, a decrease of 25,250 from the preceding week’s revised average of 4,592,750.
The fiscal year-to-date average of seasonally adjusted weekly insured unemployment, which corresponds to the appropriated AWIU trigger, was 5.077 million.
UNADJUSTED DATA
The advance number of actual initial claims under state programs, unadjusted, totaled 438,305 in the week ending June 26, an increase of 14,867 from the previous week. There were 559,857 initial claims in the comparable week in 2009.
The advance unadjusted insured unemployment rate was 3.4 percent during the week ending June 19, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 4,311,264, an increase of 3,471 from the preceding week. A year earlier, the rate was 4.5 percent and the volume was 6,078,254.
Extended benefits were available in Alaska, Arizona, California, Connecticut, the District of Columbia, Georgia, Kansas, Maine, Massachusetts, Michigan, Minnesota, Montana, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oregon, Puerto Rico, Rhode Island, Vermont, Virginia, Washington, and Wisconsin during the week ending June 12.
Initial claims for UI benefits by former Federal civilian employees totaled 2,083 in the week ending June 19, a decrease of 64 from the prior week. There were 2,381 initial claims by newly discharged veterans, a decrease of 118 from the preceding week.
There were 18,082 former Federal civilian employees claiming UI benefits for the week ending June 12, an increase of 245 from the previous week. Newly discharged veterans claiming benefits totaled 34,334, a decrease of 2,589 from the prior week.
States reported 4,515,499 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending June 12, a decrease of 217,513 from the prior week. There were 2,503,379 claimants in the comparable week in 2009. EUC weekly claims include first, second, third, and fourth tier activity.
via ETA Press Release: Unemployment Insurance Weekly Claims Report.
Heckuva Job Berry!
This right here ought to be text book proof that you just do not spend your way out of a recession.
Others: Hot Air, protein wisdom