Jobless Claims Fall to Lowest Levels in Four Months

Thursday, July 28, 2011

Amid all of the doomsday talk this week about the debt ceiling, there is a flicker of hope for the U.S. economy this morning. Weekly jobless claims dropped below key 400,000 level for the first time since early April — a sign of stable job growth. Tomorrow, the government is expected to report that the economy grew at a 1.8 percent annual rate.

Mike Munger, professor of political science and economics at Duke University, decodes these numbers and says the deadlock in Washington threatens to derail whatever growth these numbers show.

Comments [1]

listener

Does this "brilliant..star of news" have to do with temporary summer hiring and the unemployed giving up for the summer?
If this awful thing called debate in DC will have a "catastrophic effect on our national economy" than why didn't the President quickly raise the debt ceiling last year when he had a Democrat majority in the Congress and there would have been no tiresome stalemate?
If the massive debt is the cause of unemployment than wasn't "cut, cap and balance" the only proposal in years that attempted to deal with the long term debt and it was stubbornly blocked by the Democrats?

Jul. 28 2011 11:37 AM

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