New Unemployment Claims Fall to 3-year Low - Yeah Right...

According to the Associated Press today, new unemployment claims fell to a 3-year low - but that is not the whole story.

WASHINGTON (AP) - The number of people requesting unemployment benefits has plunged to a nearly 3-year low.

That supports the view that companies will increase the pace of hiring this year.
The Labor Department says applications for unemployment benefits fell by 20,000 to a seasonally adjusted 368,000 last week.

It was the third decline in the last four weeks. Applications are now at their lowest level since May 2008.

Ohio reported 1 of the largest declines, with jobless claims down by nearly 1,500 in the most recent week.

Upon release of this news,the Main Stream Media is reporting this is proof that the economy is getting better. HOGWASH!

It is important to note that new unemployment claims at a rate of 368,000 per week still means that the US is losing jobs at a rate of 19 million per year - and that is only those who file or even qualify for UI benefits. So what exactly is so good about that?

As long as the 30 some million of unemployed and underemployed in this country have little or no money to spend in the economy and Washington keeps cutting taxes on the rich and corporate elite and supplementing big banks on the backs of the poor, this country will continue to spiral down into an economic black hole which inevitably will result in a “Have Nots vs the Haves” revolution. (There are millions of Have Nots to every one of the Haves in the USA)

The thing is exactly how bad does it have to get in America before we get off of our collective BUTTS and make Washington listen? How much BS are you willing to tolerate? Only you can decide for your selves.....

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