New claims for unemployment benefits fell last week, but not enough to assuage fears the labor market recovery has taken a step back.
Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 422,000, the Labor Department said on Thursday, less than economists’ expectations for a fall to 415,000.
The claims report falls outside the survey period for the government’s closely watched data on nonfarm payrolls for May.
The government is expected to report on Friday that employers hired 150,000 last month, according to a Reuters survey, after increasing payrolls by 244,000 in April.
“Every indication we have had so far points to a slightly softer labor market in the U.S.,” said Camilla Sutton, chief currency strategist at Scotia Capital in Toronto.
U.S. stock index futures held gains after the data, while U.S. bond prices extended losses. The dollar also extended losses against the euro.
There is a risk that May payrolls could come in below consensus after ADP, a payroll service company, reported private employers added only 38,000 last month, the smallest number since September.
Obama wants more poor people.
They are more likely to vote for him.
One of his cronies, ”ACTING” solicitor general Neal Kumar Katya actually made the plea in front of the US Appeals Court (6th Circuit) that, “IF YOU DON’T LIKE OBAMACARE’S INDIVIDUAL MANDATE, YOU SHOULD JUST EARN LESS MONEY!!!!!!”
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Is “going Galt” our only way away from Obama?
It is starting to look like even Obama’s own cronies are admitting it is.
Newsflash: Not everyone who downsized his life will vote for Obama. Not by a long shot!
this will be fix only after the next election with a NEW PRESIDENT.
WHO WILL OPEN THE GATES OF THE FUTURE,
AND CLOSE THE GATES OF HELL.
Moody’s is out with a comment saying that if there’s no imminent progress on the debt ceiling fight, the US credit rating will be cut.
This makes total sense, and Moody’s is doing their job: Identifying an imminent (real) issue, and sensibly advising (ahead of time) about what could be a threat to US debt holders.
This should help put an end to this idea that a technical default would be just fine, and that somehow all this brinksmanship would be good for US credit somehow.
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