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AP: Jobless Claims, Hiring Are Both Up

From a relentlessly sunny Associated Press:

More people sought unemployment aid last week

By Christopher S. Rugaber, AP Economics Writer
March 10, 2011

WASHINGTON – The number of people seeking unemployment benefits rose last week. But the rise comes after applications hit their lowest level in nearly three years, and economists expect further declines as the economy improves.

Applications rose by 26,000 to a seasonally adjusted 397,000 during the week ended March 5, the Labor Department said Thursday.

The latest report covers the week after the Presidents’ Day holiday, when many government offices were closed. Applications usually rise in weeks following holiday-shortened weeks.

Applications below 425,000 signal modest job growth

You see? This is really good news. It means there are more jobs. Remember how increases in unemployment under Bush meant there was modest job growth?

Companies are hiring more, after months of sluggish job creation…

More jobs should boost incomes, which would fuel more consumer spending and in turn spur more economic growth and hiring

Except during periods when Republicans control the White House. Then consumer spending is considered even more wicked than smoking cigarettes.

Economists worry that several factors could slow or even reverse the recovery, including rising oil prices and state and local government cutbacks…

Here come the excuses. Naturally Mr. Obama won’t be blamed for the hirer oil prices. And just as naturally the Republicans will be blamed for cutting state and local spending.

Plenty of hiring is taking place. Kohl’s Department Stores Inc. said Wednesday that it is opening nine stores in seven states, including Illinois, New York, Virginia and South Dakota. The move will create 1,200 jobs, the retailer said…

It’s uncanny, isn’t it? "Plenty of hiring is taking place" and yet unemployment claims have gone up once again.

What a topsy-turvy world it is — for the AP.

This article was posted by Steve on Thursday, March 10th, 2011. Comments are currently closed.

One Response to “AP: Jobless Claims, Hiring Are Both Up”

  1. seandougsnyder says:

    “Applications usually rise in weeks following holiday-shortened weeks.”

    Funny, no mention of this last week when the numbers where down and we were supposed to believe that meant we were back on the road to recovery.

    Isn’t there someway to get rid of the AP already? Maybe a fraud charge? There have to be consequences for this sort of lazy robot journalism that keeps churning out the same lies.

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