corrente

Why is it that the economists are always surprised by how bad the job market is? Every time, they're surprised. Can't we outsource them?

The Labor Department reported Thursday that new applications for unemployment insurance increased by a seasonally adjusted 10,000 to 343,000 for the week ending Aug. 21. Half of the 10,000 rise was attributed to claims stemming from the hurricane, a Labor Department analyst said.

The increase in claims last week was larger than the rise economists were expecting. Some predicted that claims would increase by around 4,000. The 343,000 level of claims was the highest since July 24.

Thursday's report also showed that the number of workers continuing to draw jobless benefits rose by 5,000 to 2.9 million for the week ending Aug. 14, the most recent period for which that information is available. While the figure suggests that companies aren't on a major hiring spree, it is an improvement from the same period a year ago, when continuing claims stood at 3.6 million.
(via AP)

Wow... An improvement from a year ago. Boy, if I was one of the people newly unemployed last week, that would sure make me feel better!

Seems like Bush just doesn't want to talk about this, other than to repeat the tax cut mantra. I wonder why?