…but unexpectedly again.

The number of Americans filing new claims for unemployment aid unexpectedly edged higher last week, stoking fears of a stalled economic recovery even as a separate report showed record U.S. exports in April.

Initial claims for state jobless benefits increased 1,000 to 427,000, the Labor Department said. However, economists polled by Reuters had forecast claims dropping to 415,000 from a previously reported count of 422,000.

The rise kept first-time claims perched above the 400,000 mark for the ninth week in a row. Analysts normally associate a level below that with steady job growth.

"It’s the same dismal trend continuing. It’s not getting worse, but it’s not getting better either," said Keith Hembre, chief economist at Nuveen Asset Management in Minneapolis.

Emphasis mine. The Obama administration chart of what would happen in unemployment without their plan vs what would happen with their plan vs reality continues to show how wrong they have been all along.

Related posts:

  1. "Unexpectedly"
  2. Unexectedly!
  3. How Effective Is the Stimulus?
  4. Betting on the Stimulus
  5. "Unexpected!"

Filed under: Doug • Economics & Taxes

Like this post? Subscribe to my RSS feed and get loads more!