By Joel B. Pollack
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.
439,000 people out of work! I live in a county in Florida with 850,000 people - if that number was just for this county - just think about it! Think about small cities with 50,000 or less. Some states have small populations - 439,000 would be a death quell!
How many people live in your county? We are getting very close of half a million people un-employed! That's a tragedy for my country.
Also a tragedy that these numbers were probably held up until AFTER this election. Remember the numbers were up a bit just BEFORE the election.
We, in this country are being stonewalled by this administration and the MSM, owned and operated by the Obama administration!