Surprise! Jobless Claims Going Up!

Jobless Claims Going Up!

Neal Boortz
Nov. 16, 2012

You saw this, didn’t you? We now have 439,000 new jobless claims for the first full week after the disastrous reelection of our Dear Ruler. Pennsylvania and Ohio led the pack. Two union states. Two crucial states won by Obama. The Obama crowd is trying to put the best possible spin on these numbers --- saying that they’re due to layoffs from Hurricane Sandy. Nonsense. Layoffs in Ohio? Pennsylvania? Heavy union states?

No … what we’re seeing here is a direct reaction to the idiot voters of this country reelecting this anti-business failure to the presidency for another four years. Here’s how this worked. These businessmen have been struggling for years. More particularly, they have been struggling through the slowest recovery from a recession in history. About two years into Obama’s term these businessmen and investors figured out that things simply weren’t going to get any better until Obama was gone. ObamaCare was looming as an expensive regulatory nightmare. The flood of new business and finance regulations coming out of the Obama executive branch were a nightmare. As a result, businessmen and investors simply went into economic hibernation. They were going to wait until the Obama business winter was over.

Then comes the election. For businessmen and women it signaled the coming of an ice age. Things weren’t going to get better … not anytime soon … and continued hibernation was not possible. It was time to pare back and go into survival mode. ObamaCare was going to be a reality. There would be no repeal. The flood of regulations would continue – probably get worse. The EPA would soon unleash the flood of new so-called “clean air” rules that will send energy costs through the roof. Taxes on small business owners are going to rise. Capital gains taxes on investors – going up. There is absolutely NOTHING on the horizon with four more years of Obama that gives one iota of hope for a better business and economic climate ahead. So … it’s time to go lean and mean … and that’s just what these businesses are doing. They’re shedding employees to get under the ObamaCare threshold. They’re looking for ways to get more efficient so that they can rid themselves of unnecessary workers. As a result we see jobless claims are on the rise .. the highest number since the middle of 2011.

The Obama junta wants to blame it on the storm. Well .. .they’re half-right. It’s a storm all right, but not Hurricane Sandy. It’s the storm of taxes and regulations that are coming with the reelection of an anti-business, tax and spend president.

Elections have consequences. Here’s your pink slip. Enjoy. And if you’re an Obama voter, I’m enjoying it right along with you. You did it to yourselves.

Surprise! Jobless Claims Up 78,000 Week After Election; PA, OH Worst Hit

Joel B. Pollak
Breitbart
Nov 2012

The Department of Labor has announced that new jobless claims rose by a staggering 78,000 in the first week after the election, reaching a seasonally-adjusted total of 439,000. Over the past year, and in the weeks leading up to the election, jobless claims were said to be declining, dipping as low as 339,000, with the media proclaiming that they had reached the "lowest level in more than four years." Now, suddenly, the news seems far less rosy.

From the Department of Labor press release this morning:

In the week ending November 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week's revised figure of 361,000. The 4-week moving average was 383,750, an increase of 11,750 from the previous week's revised average of 372,000.

Some of the new claims, especially in New Jersey, were due to Hurricane Sandy--but these were offset by a decline in claims filed in New York. The highest numbers of new filings came from Pennsylvania and Ohio, where there were thousands of layoffs in the construction, manufacturing, and automobile industries.

Both states had been targeted by the presidential campaigns. President Obama highlighted his record of job creation in Ohio in particular, focusing on the automobile industry. The state reported 6,450 new jobless claims in the week after the election--second-highest after Pennsylvania, which recorded 7,766 new claims.

Guess this is Bush's fault too right? lol..