Glenn Reynolds notes, there’s that word again.

Jobless Claims in U.S. Unexpectedly Climb to Three-Month High

More Americans than projected filed applications for unemployment insurance last week, indicating firings remain elevated as the recovery moderated.

Initial jobless claims climbed by 19,000 to 479,000 in the week ended July 31, the most since April and exceeding the highest estimate of economists surveyed by Bloomberg News, Labor Department figures showed today in Washington. The number of people receiving unemployment benefits dropped, while those getting extended payments rose.

And there’s talk of more and more bailouts, because hey, they’ve worked so well so far, eh?  Eighteen months and billions upon billions of dollars later, this is the Obama economy.  Inheriting a mess is one thing; making it worse is your own doing.

Filed under: Economics

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