Another Bad Employment Number

This morning, those filing first time unemployment insurance claims rose to 496,000. That's a 22,000 claim jump from last week and substantially higher than the drop that was expected by most economists. Except for a holiday and weather related one-week drop in claims, the amount of claims has been rising in the last 7 weeks of reporting. That is the opposite of what would be expected in a recovering economy.

The Associated Press (AP) is trying to spin this as being "snow-related layoffs" (Click to See Full Story: Jobless claims rise on snow-related layoffs). Please! Since when does any employer, even in construction, let people go because of a week or two of bad whether? If anything, the weather will only delay business activities; not cancel them completely. But, the AP will do anything to soften bad news for this President.

The reality, and not some slobbering defense of Obama by the Associated Press, is that mass layoffs are on the rise again -- as I reported two days ago. Believe me, Harry Reid's $15 billion jobs bill -- the one that was passed just this week -- isn't going to do anymore to improve things than his more than 50 times that amount in the $787 billion Stimulus Bill of last year. These people just don't get it. It is both current and future Federal spending, taxes, and regulation that is killing this economy. Give businesses a stable expense and tax outlook and, I guarantee you, the economy will grow and the employment situation will turn around. Past history shows that it was Reagan's policies and not those of FDR, Carter, and, now, Obama that can turnaround and grow an economy.