Biden’s Economy Gets More Bad News

Gage Skidmore Flickr

Jobless claims have risen for the third straight week as Biden’s economy spirals.

According to The Washington Free Beacon:

Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 362,000 for the week ended Sept. 25, the Labor Department said on Thursday. Economists polled by Reuters had forecast 335,000 applications for the latest week.

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Claims have been rising, with economists blaming a range of factors including wild fires in California and Hurricane Ida, which struck the Gulf Coast in late August and caused record flooding in New York and New Jersey in early September.

“Continued progress on this front should support demand for services,” said Stephen Juneau, an economist at Bank of America Securities in New York. “We are seeing signs that travel demand is improving. Total card spending has increased.”

The claims data is being watched for signs of how soon a shortage of workers will start easing after the expiration early this month of federal government-funded benefits, which were blamed by businesses and Republicans for keeping the unemployed at home. There were a record 10.9 million open jobs at the end of July. More than 8 million people are estimated to have lost all their pandemic benefits on Sept. 6.

One of the reasons given for the labor market softening is the rise in the Delta variant.

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Mike
Mike
19 days ago

Joe Biden is a fraud and needs impeachment and jail why are we letting this happen

mark Cameron sr
19 days ago

Socialism does not work! When achievers are brought down to the same level as non achievers, soon, no one achieves. Read the platform of the Democrat party to uncover all the socialistic policies that they have enacted.

With the leftist mind set of the Democrat party, the government is effectively killing the “golden goose” that made this country the greatest and most innovative in history! Countless giveaways that result in borrowing and increasing the national debt, only cause this country to be at the mercy of China.

Hopeful of achieving the prosperity that can be achieved through hard work, is the reason refugees sneak into this country. No one sneaks out of this unless they are trying to escape the law. Unfortunately The criminal act of sneaking into this country is now being rewarded with free everything.

Now regarding socialism, if D and F students are given the same marks as the A and B students, soon, the A and B students lose their incentive to achieve. How does that help?

Lastly, law and order must be maintained. Crimes must have consequences and must be prosecuted. If we don’t require our citizens (and non-citizens) to uphold the law, we will continue to have chaos.

Lucy
19 days ago

If people want to work there a re jobs everywhere. Driving the interstate yesterday I saw “Now Hiring” signs posted at many, many businesses. When they get tired of sitting on the derrieres, and receiving all the government handouts, they will eventually return to work. There is dignity in work, there is no dignity in living off the government.

Gray ghost
19 days ago

If we keep the Democrats in office, the USA will go in the sewer pretty quick now the people better make changes quickly!!!

Jim
Jim
19 days ago

Biden is destroying the country and the democrats know it because that’s what they want

Zwoman
Zwoman
19 days ago

They have successfully brainwashed too many Americans with fear of A VIRUS that will not “go away” with mask mandates & a experimental shot. Fraudci & his Chinese counterparts have developed a designer virus that they now can’t control. Dementia Joe keeps his minions living in fear. Truly sad times.

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