An Ol' Broad's Ramblings
Are We Stupid?
Weekly Jobless Claims Drop to 3-Year Low
The number of people applying for unemployment benefits plunged last week to the lowest level in nearly three years, boosting hopes that companies will step up hiring this year as the economy strengthens.
Applications sank by a seasonally adjusted 36,000 to 383,000, the lowest point since early July 2008, the Labor Department reported Thursday.
Unemployment applications reflect the level of layoffs, but also can indicate whether companies are willing to hire.
Well, I guess we must be…..IF we buy into the gubmint numbers. You see, once a person’s unemployment benefits end, they aren’t applying anymore, are they. And if they aren’t applying, their numbers are dropped. Dropping numbers….makes things look a whole lot brighter, doesn’t.
Unfortunately, that’s not the reality. Not only have people run out of unemployment benefits, they haven’t found a job either. What do they do? Well, I wonder what the number of people applying for welfare these days might be? I haven’t really seen too much on that front, have you? We do know that more people than ever are receiving food stamps. Wouldn’t that be an indication that things aren’t so peachy? I don’t really think the REAL unemployment rate, somewhere around 16%, is an indication of an improving employment picture, do you?
